OM:FABG

Stock Analysis Report

Executive Summary

Fabege AB (publ), a property company, focuses primarily on the development and management of commercial premises in Sweden.

Snowflake

Fundamentals

Average dividend payer with questionable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.3%

OM:FABG

2.6%

SE Real Estate

0.2%

SE Market


1 Year Return

27.6%

OM:FABG

31.0%

SE Real Estate

-1.9%

SE Market

FABG underperformed the Real Estate industry which returned 30.1% over the past year.

FABG outperformed the Market in Sweden which returned -2.6% over the past year.


Share holder returns

FABGIndustryMarket
7 Day1.3%2.6%0.2%
30 Day4.5%4.1%-3.7%
90 Day9.4%11.9%-1.5%
1 Year30.1%27.6%36.7%31.0%2.2%-1.9%
3 Year116.2%101.1%54.6%40.9%26.0%7.4%
5 Year288.9%243.3%179.9%139.0%45.6%14.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

9.78x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

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

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


Price Based on Earnings

Fabege is overvalued based on earnings compared to the SE Real Estate industry average.

Fabege is good value based on earnings compared to the Sweden market.


Price Based on Expected Growth

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


Price Based on Value of Assets

Fabege is overvalued based on assets compared to the SE Real Estate industry average.


Next Steps

Future Growth

How is Fabege expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

-29.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Fabege's revenue is expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).

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

Fabege's revenue growth is expected to exceed the Sweden market average.

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

Fabege'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

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


Next Steps

Past Performance

How has Fabege performed over the past 5 years?

27.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Fabege has delivered over 20% year on year earnings growth in the past 5 years.

Fabege's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Fabege's 1-year earnings growth is negative, it can't be compared to the SE Real Estate industry average.


Return on Equity

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


Return on Assets

Fabege used its assets more efficiently than the SE Real Estate industry average last year based on Return on Assets.


Return on Capital Employed

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


Next Steps

Financial Health

How is Fabege's financial position?


Financial Position Analysis

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

Fabege's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Fabege's level of debt (76.4%) 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 (167.5% vs 76.4% today).

Debt is not well covered by operating cash flow (5%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4.2x 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 Fabege's current dividend yield, its reliability and sustainability?

1.99%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Fabege's pays a lower dividend yield than the bottom 25% of dividend payers in Sweden (1.97%).

Fabege's dividend is below the markets top 25% of dividend payers in Sweden (4.54%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (6.1x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.5x coverage).


Next Steps

Management

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

8.6yrs

Average management tenure


CEO

Christian Hermelin (55yo)

12.6yrs

Tenure

kr3,354,000

Compensation

Mr. Christian Hermelin has been the Chief Executive Officer of Fabege AB (formerly, Wihlborgs Fastigheter Ab) since March 27, 2007 and has been its President since 2007. Mr. Hermelin served as Director of  ...


Management Age and Tenure

8.6yrs

Average Tenure

55.5yo

Average Age

The average tenure for the Fabege management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

5.5yrs

Average Tenure

64.5yo

Average Age

The tenure for the Fabege board of directors is about average.


Insider Trading

Fabege individual insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Buykr1,084,73609 Jun 19
Anders Borggren
EntityIndividual
Role
Chief Technology Officer
Chief Technical Operations
Shares7,445
Max Pricekr145.70
Sellkr5,560,25128 May 19
Charlotta Rosell
EntityIndividual
Role
Chief Administrative Officer
Head of Administration
Shares39,033
Max Pricekr142.45
Sellkr5,560,25128 May 19
Anders Borggren
EntityIndividual
Role
Chief Technology Officer
Chief Technical Operations
Shares39,033
Max Pricekr142.45
Sellkr5,560,25128 May 19
Klas Holmgren
EntityIndividual
Role
Senior Key Executive
Head of Project & Processing
Shares39,033
Max Pricekr142.45
Sellkr5,560,39328 May 19
Klaus Hansen-Vikström
EntityIndividual
Shares39,034
Max Pricekr142.45
Sellkr5,560,39328 May 19
Christian Hermelin
EntityIndividual
Role
Chief Executive Officer
President & CEO
Shares39,034
Max Pricekr142.45
Sellkr5,560,25127 May 19
Åsa Bergström
EntityIndividual
Role
Chief Financial Officer
VP, CFO & Company Secretary
Shares39,033
Max Pricekr142.45
Buykr123,38004 Mar 19
Klas Holmgren
EntityIndividual
Role
Senior Key Executive
Head of Project & Processing
Shares1,000
Max Pricekr123.38
Buykr148,20528 Feb 19
Anders Borggren
EntityIndividual
Role
Chief Technology Officer
Chief Technical Operations
Shares1,200
Max Pricekr123.92
Buykr540,99226 Feb 19
Åsa Bergström
EntityIndividual
Role
Chief Financial Officer
VP, CFO & Company Secretary
Shares4,430
Max Pricekr122.12
Buykr12,642,78713 Feb 19
Christian Hermelin
EntityIndividual
Role
Chief Executive Officer
President & CEO
Shares101,000
Max Pricekr125.18
Sellkr2,519,00012 Feb 19
Anna Engebretsen
EntityIndividual
Shares20,000
Max Pricekr125.95
Buykr688,33812 Feb 19
Jan Litborn
EntityIndividual
Role
Chairman of the Board
Chairman
Shares5,400
Max Pricekr127.47
Sellkr3,769,22111 Feb 19
Anna Engebretsen
EntityIndividual
Shares30,000
Max Pricekr125.64

Ownership Breakdown


Management Team

  • Christian Hermelin (55yo)

    President & CEO

    • Tenure: 12.6yrs
    • Compensation: kr3.35m
  • Åsa Bergström (55yo)

    VP, CFO & Company Secretary

    • Tenure: 11.7yrs
  • Johan Rudberg (58yo)

    Business Development Executive

    • Tenure: 0.0yrs
  • Klas Holmgren (49yo)

    Head of Project & Processing

    • Tenure: 0.0yrs
  • Elisabet Olin

    Head of Communications

    • Tenure: 0.0yrs
  • Charlotta Rosell (56yo)

    Head of Administration

    • Tenure: 5.6yrs
  • Anders Borggren (61yo)

    Chief Technical Operations

    • Tenure: 5.6yrs
  • Peter Kangert

    IR Manager

    • Tenure: 0.0yrs
  • Ewa Wassberg

    IR Contact

    • Tenure: 0.0yrs

Board Members

  • Per-Ingemar Persson (63yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: kr220.00k
  • Märtha Josefsson (72yo)

    Director

    • Tenure: 14.6yrs
    • Compensation: kr290.00k
  • Mats Qviberg (66yo)

    Deputy Chairman of the Board

    • Tenure: 7.6yrs
    • Compensation: kr220.00k
  • Eva Eriksson (60yo)

    Director

    • Tenure: 8.4yrs
    • Compensation: kr260.00k
  • Jan Litborn (68yo)

    Chairman

    • Tenure: 1.3yrs
    • Compensation: kr500.00k
  • Anette Asklin (58yo)

    Director

    • Tenure: 3.3yrs
    • Compensation: kr220.00k

Company Information

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


Key Information

  • Name: Fabege AB (publ)
  • Ticker: FABG
  • Exchange: OM
  • Founded: 1924
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr51.983b
  • Shares outstanding: 330.78m
  • Website: https://www.fabege.se

Number of Employees


Location

  • Fabege AB (publ)
  • Box 730
  • Solna
  • Stockholm County
  • 169 27
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FABGOM (OMX Nordic Exchange Stockholm)YesSeries B SharesSESEKMay 1993
WILCDB (Deutsche Boerse AG)YesSeries B SharesDEEURMay 1993
0XPXLSE (London Stock Exchange)YesSeries B SharesGBSEKMay 1993
FBGB.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2008

Biography

Fabege AB (publ), a property company, focuses primarily on the development and management of commercial premises in Sweden. The company operates through Property Management, Property Development, and Trans ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 21:05
End of Day Share Price2019/08/19 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.