company background image
CATE

CatenaOM:CATE Stock Report

Market Cap

kr23.5b

7D

-1.6%

1Y

48.4%

Updated

26 Nov, 2021

Data

Company Financials +
CATE fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance4/6
Financial Health2/6
Dividends3/6

CATE Stock Overview

Catena AB (publ) operates as a logistics property company in Sweden.

Catena Competitors

Fastighets AB Balder

OM:BALD B

kr128.5b

AB Sagax

OM:SAGA A

kr119.2b

Castellum

OM:CAST

kr68.0b

Wallenstam

OM:WALL B

kr53.8b

Price History & Performance

Summary of all time highs, changes and price drops for Catena
Historical stock prices
Current Share Pricekr570.00
52 Week Highkr593.00
52 Week Lowkr363.00
Beta0.67
1 Month Change3.82%
3 Month Change2.80%
1 Year Change48.44%
3 Year Change175.36%
5 Year Change356.91%
Change since IPO453.40%

Recent News & Updates

Shareholder Returns

CATESE Real EstateSE Market
7D-1.6%-3.5%-5.2%
1Y48.4%34.4%27.1%

Return vs Industry: CATE exceeded the Swedish Real Estate industry which returned 34.4% over the past year.

Return vs Market: CATE exceeded the Swedish Market which returned 27.1% over the past year.

Price Volatility

Is CATE's price volatile compared to industry and market?
CATE volatility
CATE Average Weekly Movement4.0%
Real Estate Industry Average Movement4.4%
Market Average Movement6.4%
10% most volatile stocks in SE Market12.0%
10% least volatile stocks in SE Market3.7%

Stable Share Price: CATE is less volatile than 75% of Swedish stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: CATE's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
196746Jörgen Erikssonhttps://catenafastigheter.com

Catena AB (publ) operates as a logistics property company in Sweden. It owns, develops, manages, and sells logistics properties. The company serves logistics companies.

Catena Fundamentals Summary

How do Catena's earnings and revenue compare to its market cap?
CATE fundamental statistics
Market Capkr23.50b
Earnings (TTM)kr2.34b
Revenue (TTM)kr1.35b

10.1x

P/E Ratio

17.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CATE income statement (TTM)
Revenuekr1.35b
Cost of Revenuekr281.70m
Gross Profitkr1.07b
Expenses-kr1.27b
Earningskr2.34b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 22, 2022

Earnings per share (EPS)56.68
Gross Margin79.13%
Net Profit Margin173.11%
Debt/Equity Ratio104.3%

How did CATE perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

13%

Payout Ratio

Valuation

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

10.06x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CATE (SEK570) is trading above our estimate of fair value (SEK144.67)

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


Price To Earnings Ratio

PE vs Industry: CATE is good value based on its PE Ratio (10.1x) compared to the Swedish Real Estate industry average (10.9x).

PE vs Market: CATE is good value based on its PE Ratio (10.1x) compared to the Swedish market (23.5x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CATE is overvalued based on its PB Ratio (2.3x) compared to the SE Real Estate industry average (1.5x).


Future Growth

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

-18.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CATE's earnings are forecast to decline over the next 3 years (-18.6% per year).

Earnings vs Market: CATE's earnings are forecast to decline over the next 3 years (-18.6% per year).

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

Revenue vs Market: CATE's revenue (6.4% per year) is forecast to grow faster than the Swedish market (5.3% per year).

High Growth Revenue: CATE's revenue (6.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CATE's Return on Equity is forecast to be low in 3 years time (8.5%).


Past Performance

How has Catena performed over the past 5 years?

33.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CATE has a large one-off gain of SEK1.9B impacting its September 30 2021 financial results.

Growing Profit Margin: CATE's current net profit margins are higher than last year (95.9%).


Past Earnings Growth Analysis

Earnings Trend: CATE's earnings have grown significantly by 33.8% per year over the past 5 years.

Accelerating Growth: CATE's earnings growth over the past year (98.5%) exceeds its 5-year average (33.8% per year).

Earnings vs Industry: CATE earnings growth over the past year (98.5%) exceeded the Real Estate industry 95.8%.


Return on Equity

High ROE: Whilst CATE's Return on Equity (22.97%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Catena's financial position?


Financial Position Analysis

Short Term Liabilities: CATE's short term assets (SEK1.0B) do not cover its short term liabilities (SEK2.2B).

Long Term Liabilities: CATE's short term assets (SEK1.0B) do not cover its long term liabilities (SEK11.6B).


Debt to Equity History and Analysis

Debt Level: CATE's net debt to equity ratio (98.5%) is considered high.

Reducing Debt: CATE's debt to equity ratio has reduced from 208.8% to 104.3% over the past 5 years.

Debt Coverage: CATE's debt is not well covered by operating cash flow (8.7%).

Interest Coverage: CATE's interest payments on its debt are well covered by EBIT (29.2x coverage).


Balance Sheet


Dividend

What is Catena current dividend yield, its reliability and sustainability?

1.32%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CATE's dividend (1.32%) is higher than the bottom 25% of dividend payers in the Swedish market (0.93%).

High Dividend: CATE's dividend (1.32%) is low compared to the top 25% of dividend payers in the Swedish market (3.79%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CATE has been paying a dividend for less than 10 years.

Growing Dividend: CATE's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.7%), CATE's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CATE's dividends in 3 years are forecast to be well covered by earnings (45.8% payout ratio).


Next Steps

Management

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

1.0yrs

Average management tenure


CEO

Jörgen Eriksson (49 yo)

1

Tenure

Mr. Jörgen Eriksson serves as the Chief Executive Officer at Catena AB since November 01, 2020 and served as its Head of Business and Property since May 01, 2020 until November 2020 and served as its Deput...


Leadership Team

Experienced Management: CATE's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

Experienced Board: CATE's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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 9.4%.


Top Shareholders

Company Information

Catena AB (publ)'s employee growth, exchange listings and data sources


Key Information

  • Name: Catena AB (publ)
  • Ticker: CATE
  • Exchange: OM
  • Founded: 1967
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr23.499b
  • Shares outstanding: 41.23m
  • Website: https://catenafastigheter.com

Number of Employees


Location

  • Catena AB (publ)
  • Box 5003
  • Helsingborg
  • Skåne County
  • 250 05
  • Sweden

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/26 21:30
End of Day Share Price2021/11/26 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.