Hufvudstaden (OM:HUFV A) - Share price, News & Analysis

HUFV A fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	1/6
Financial Health	2/6
Dividends	4/6

HUFV A Stock Overview

Hufvudstaden AB (publ) engages in the ownership, development, and management of commercial properties in Stockholm and Gothenburg, Sweden.

Rewards

PE ratio (7.8x) is below the Swedish market (18.1x)

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of 16.4% per year for the next 3 years

Unstable dividend track record

Large one-off items impacting financial results

Hufvudstaden Competitors

AB Sagax

OM:SAGA A

kr88.2b

Fastighets AB Balder

OM:BALD B

kr81.5b

Castellum

OM:CAST

kr61.0b

Samhällsbyggnadsbolaget i Norden

OM:SBB B

kr45.3b

Price History & Performance

Summary of all time highs, changes and price drops for Hufvudstaden
Historical stock prices
Current Share Price	kr127.70
52 Week High	kr164.40
52 Week Low	kr113.50
Beta	0.59
1 Month Change	-0.16%
3 Month Change	0.16%
1 Year Change	-7.83%
3 Year Change	-18.66%
5 Year Change	-12.35%
Change since IPO	177.61%

Shareholder Returns

	HUFV A	SE Real Estate	SE Market
7D	5.5%	3.7%	2.2%
1Y	-7.8%	-6.2%	-10.9%

Return vs Industry: HUFV A underperformed the Swedish Real Estate industry which returned -6.2% over the past year.

Return vs Market: HUFV A exceeded the Swedish Market which returned -10.9% over the past year.

Price Volatility

Is HUFV A's price volatile compared to industry and market?
HUFV A volatility
HUFV A Average Weekly Movement	4.5%
Real Estate Industry Average Movement	5.7%
Market Average Movement	7.9%
10% most volatile stocks in SE Market	13.1%
10% least volatile stocks in SE Market	5.1%

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

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

About the Company

Founded	Employees	CEO	Website
1915	368	Anders Nygren	https://hufvudstaden.se

Hufvudstaden AB (publ) engages in the ownership, development, and management of commercial properties in Stockholm and Gothenburg, Sweden. The company operates through three segments, Property Management, NK Retail, and Other Operations. It offers office and retail properties, residential properties, restaurants, department stores, parking facilities, and shopping centers.

Hufvudstaden Fundamentals Summary

How do Hufvudstaden's earnings and revenue compare to its market cap?
HUFV A fundamental statistics
Market Cap	kr25.83b
Earnings (TTM)	kr3.32b
Revenue (TTM)	kr2.63b

7.8x

P/E Ratio

9.8x

P/S Ratio

Is HUFV A overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
HUFV A income statement (TTM)
Revenue	kr2.63b
Cost of Revenue	kr1.28b
Gross Profit	kr1.35b
Other Expenses	-kr1.97b
Earnings	kr3.32b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 24, 2022

Earnings per share (EPS)	16.42
Gross Margin	51.42%
Net Profit Margin	126.26%
Debt/Equity Ratio	29.4%

How did HUFV A perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

16%

Payout Ratio

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

7.78x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: HUFV A (SEK127.7) is trading above our estimate of fair value (SEK55.75)

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

Price To Earnings Ratio

PE vs Industry: HUFV A is poor value based on its PE Ratio (7.8x) compared to the Swedish Real Estate industry average (5.6x).

PE vs Market: HUFV A is good value based on its PE Ratio (7.8x) compared to the Swedish market (18.1x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: HUFV A is good value based on its PB Ratio (0.8x) compared to the SE Real Estate industry average (1x).

Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

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

-16.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HUFV A's earnings are forecast to decline over the next 3 years (-16.4% per year).

Earnings vs Market: HUFV A's earnings are forecast to decline over the next 3 years (-16.4% per year).

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

Revenue vs Market: HUFV A's revenue (0.8% per year) is forecast to grow slower than the Swedish market (5.7% per year).

High Growth Revenue: HUFV A's revenue (0.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: HUFV A's Return on Equity is forecast to be low in 3 years time (3.9%).

Past Performance

How has Hufvudstaden performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

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

-27.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HUFV A has a large one-off gain of SEK3.0B impacting its March 31 2022 financial results.

Growing Profit Margin: HUFV A became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: HUFV A's earnings have declined by 27.1% per year over the past 5 years.

Accelerating Growth: HUFV A has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: HUFV A has become profitable in the last year, making it difficult to compare its past year earnings growth to the Real Estate industry (105.6%).

Return on Equity

High ROE: HUFV A's Return on Equity (10.7%) is considered low.

Financial Health

How is Hufvudstaden's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

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

Financial Position Analysis

Short Term Liabilities: HUFV A's short term assets (SEK1.1B) do not cover its short term liabilities (SEK3.6B).

Long Term Liabilities: HUFV A's short term assets (SEK1.1B) do not cover its long term liabilities (SEK16.6B).

Debt to Equity History and Analysis

Debt Level: HUFV A's net debt to equity ratio (27.5%) is considered satisfactory.

Reducing Debt: HUFV A's debt to equity ratio has increased from 29.3% to 29.4% over the past 5 years.

Debt Coverage: HUFV A's debt is not well covered by operating cash flow (11.6%).

Interest Coverage: HUFV A's interest payments on its debt are well covered by EBIT (10x coverage).

Balance Sheet

Dividend

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

Dividend Score

4/6

Dividend Score 4/6

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

2.04%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: HUFV A's dividend (2.04%) is higher than the bottom 25% of dividend payers in the Swedish market (1.43%).

High Dividend: HUFV A's dividend (2.04%) is low compared to the top 25% of dividend payers in the Swedish market (4.79%).

Stability and Growth of Payments

Stable Dividend: HUFV A's dividend payments have been volatile in the past 10 years.

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

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (15.8%), HUFV A's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (50.4%), HUFV A's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

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

4.8yrs

Average management tenure

CEO

Anders Nygren (51 yo)

0.33

Tenure

kr5,150,000

Compensation

Mr. Anders Nygren serves as President and Chief Executive Officer at Hufvudstaden AB (publ) since January 1, 2022 and has been its Director since March 24, 2022. He was Vice President of Hufvudstaden AB (p...

CEO Compensation Analysis

Compensation vs Market: Anders's total compensation ($USD519.41K) is below average for companies of similar size in the Swedish market ($USD1.01M).

Compensation vs Earnings: Anders's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: HUFV A's management team is considered experienced (4.8 years average tenure).

Board Members

Experienced Board: HUFV A's board of directors are seasoned and experienced ( 15.2 years average tenure).

Ownership

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

Insider Trading Volume

Insider Buying: HUFV A 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.

Data	Last Updated (UTC time)
Company Analysis	2022/05/19 00:00
End of Day Share Price	2022/05/19 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31