Castellum AB (CAST) Fair Value & Analysis
Real Estate · SE · Market cap 57.0B SEK
Fair value as of: Aug 13, 2026
From 14 valuation models · updated yesterday
Share price +6.5% over the past month.
A solid business, but screening 59% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 66.50). The favourable scenario is already priced in.
- Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 31.55 to kr 66.50) leaves room in how you read the outcome.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range kr 89.87 – kr 199.84 · fair‑value band kr 31.55 – kr 66.50 · the kr 136.70 price screens above the kr 56.39 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Castellum AB (CAST) currently trades at kr 136.70, while our model-based Fair Value estimate is kr 56.39, implying the stock looks roughly 58.8% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Castellum AB generated revenue of 9.9B SEK at a net margin of 22.6%. It earns a return on equity of 2.9%. Net debt stands at 68.2B SEK. The stock trades on a trailing P/E of 29.9. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 31.55 (bear case) to kr 66.50 (bull case); at kr 136.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -59%, CAST screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 14 models by family
Widest divergence: Asset-Based (kr 100.78) versus Multiples (kr 46.00). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 64
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Castellum AB (publ) is one of the Nordic region's largest commercial property companies, with a focus on office and logistics properties in Nordic growth cities. As of 31 December 2025, the property value, including the holdings in the Norwegian company Entra ASA and Halvorsäng, totaled approximately SEK 137 Bn.
Full company description
Castellum AB (publ) is one of the Nordic region's largest commercial property companies, with a focus on office and logistics properties in Nordic growth cities. As of 31 December 2025, the property value, including the holdings in the Norwegian company Entra ASA and Halvorsäng, totaled approximately SEK 137 Bn. The company is listed on Nasdaq Stockholm Large Cap and is classified as green under the Green Equity Designation. Castellum is the only Nordic property company included in the Dow Jones Sustainability Indices (DJSI). Castellum AB (publ) is incorporated in Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Castellum AB reported revenue of kr 9.6B in FY2025 versus kr 6.4B in FY2021, a compound +10.9%/yr. Reported net income was kr 938M in FY2025, compounding −46.9%/yr from FY2021.
of which total revenue +10.6 pp · buybacks/dilution −7.9 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
CAST screens 59% overvalued. Compare with DLF Limited →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Castellum AB (CWQXF) Q2 2026 Earnings Call Highlights: Strategic Divestments and Share Buybacks ...
- Castellum AB (CWQXF) Q1 2026 Earnings Call Highlights: Strategic Moves and Market Challenges
- Castellum AB (CWQXF) Q4 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
- How Investors May Respond To Entra (OB:ENTRA) Board Changes Requested by Castellum
Peer Group
Real Estate - Development · 592 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹661.75 | ₹146.13 | -78% |
| Lodha Developers Limited LODHA | ₹1,209 | ₹583.43 | -52% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,150 IDR | 1,330 IDR | -78% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 595.00 IDR | 1,488 IDR | +150% |
| PT Sentul City Tbk, BKSL | 73.00 IDR | 84.16 IDR | +15% |
| PT Ciputra Development Tbk, CTRA | 610.00 IDR | 1,525 IDR | +150% |
| Khang Dien House Trading and Investment Joint Stock Company KDH | 18,150 VND | 20,338 VND | +12% |
| PT Duta Pertiwi Tbk DUTI | 4,300 IDR | 6,239 IDR | +45% |
| PT Puradelta Lestari Tbk DMAS | 147.00 IDR | 164.33 IDR | +12% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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