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Fabege AB (FABG) Fair Value & Analysis

Real Estate · SE · Market cap 23.4B SEK

FA Fabege AB FABG · ST
Pricekr 76.55
Fair Valuekr 19.64
Upside-74.3%
Quality58/100
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Mixed Growth
Solidly profitable · 10.9% net margin
Moderate debt · generates free cash flow
2.94% dividend yield
Mixed vs. peers (7/15)
Moderate moat 47/100
Evidence: Medium Range kr 9.99 – kr 54.40 Share as image

Fair value as of: Aug 14, 2026

From 11 valuation models · updated today

Share price +1.3% over the past month.

A solid business, but screening 74% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 54.40). The favourable scenario is already priced in.
  • The model range is unusually wide (kr 9.99 to kr 54.40). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

kr 140.57 kr 62.20 Fair Value kr 19.64 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range kr 62.20 – kr 140.57 · fair‑value band kr 9.99 – kr 54.40 · the kr 76.55 price screens above the kr 19.64 fair value. Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Fabege AB (FABG) currently trades at kr 76.55, while our model-based Fair Value estimate is kr 19.64, implying the stock looks roughly 74.3% overvalued today. The Quality Score stands at 58/100 (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: medium).

Over the trailing twelve months, Fabege AB generated revenue of 3.8B SEK at a net margin of -1.9%. Revenue grew 24.0% year over year. It earns a return on equity of -0.2%. Net debt stands at 37.6B SEK. Fundamentals as of Aug 14, 2026

Our scenario range runs from kr 9.99 (bear case) to kr 54.40 (bull case); at kr 76.55, 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 about 13% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -74%, FABG 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (kr 1.58 to kr 92.18). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF kr 5.30 kr 39.46 80
Rev-Margin DCF kr 6.32 kr 38.93 74
EV/EBITDA kr 23.93 kr 58.69 kr 93.46 54
All 11 models by family
DCF Models
FCF DCF kr 5.67 kr 44.35 38
5Y Revenue Exit kr 5.76 kr 42.29 39
5Y EBITDA Exit kr 47.34 kr 101.27 41
10Y Revenue Exit kr 1.58 kr 34.80 36
10Y EBITDA Exit kr 29.77 kr 77.99 37
Multiples
EV/EBIT kr 49.05 kr 92.18 kr 135.31 53
EV/EBITDA kr 23.93 kr 58.69 kr 93.46 54
EV/Revenue kr 3.32 kr 28.42 43
Asset-Based
NCAV (Graham) kr 59.56 kr 79.82 kr 119.13 50
Growth DCF
Growth DCF kr 5.30 kr 39.46 80
Rev-Margin DCF kr 6.32 kr 38.93 74

Widest divergence: Asset-Based (kr 79.82) versus Growth DCF (kr 5.30). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.0B SEK
Revenue growth (YoY) +14.0%
Net margin 10.9%
Return on equity 1.2%
Free cash flow 1.7B SEK FY2025
P/E ratio 55.9
More key figures
Operating margin 59.5%
EPS (TTM) kr 1.37
Dividend yield 2.9%
EPS growth (YoY) +607%
Net debt 37.6B SEK FY2025

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 55 · Market factors (momentum, volatility) 40

Profitability 7
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

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

Fabege AB (publ), a property company, owns, develops, and manages commercial properties in Sweden. The company operates through four segments: Property Management, Property Development, Business Development/Transactions, and Residential Development.

Full company description

Fabege AB (publ), a property company, owns, develops, and manages commercial properties in Sweden. The company operates through four segments: Property Management, Property Development, Business Development/Transactions, and Residential Development. Its property portfolio comprises office, retail, industrial/warehouse, residential, hotel, and garage properties. The company also engages in residential development; and acts as an urban developer. The company was formerly known as Wihlborgs Fastigheter AB and changed its name to Fabege AB (publ) in December 2005. Fabege AB (publ) was incorporated in 1947 and is headquartered in Solna, Sweden.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fabege AB reported revenue of kr 3.8B in FY2025 versus kr 3.0B in FY2021, a compound +6.2%/yr. Reported net income was −kr 348M in FY2025.

Growth Quality 48/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.8B SEK
Latest YoY
+2.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.0%
Avg. growth/yr (25Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.6%
Revenue +6.2%/yr
FY21 kr 3.0B
FY22 kr 3.3B
FY23 kr 3.9B
FY24 kr 3.7B
FY25 kr 3.8B
Net income
FY21 kr 5.4B
FY22 kr 2.4B
FY23 −kr 5.5B
FY24 −kr 213M
FY25 −kr 348M

FABG screens 74% overvalued. Compare with Plaza S.A →

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Cite: Fair Value Calculator (2026). "Fabege AB Fair Value". https://www.fairvalue-calculator.com/stock/FABG

Peer Group

Real Estate Services · 529 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.

Quality Score 59 · Above median
Fair Value upside −74% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 2% · Below median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 59% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 2.9% · Above median
Debt / equity 0.68× · Higher than median

Valuation Multiples vs Real Estate Services median · lower = cheaper

P/E (TTM) 55.9× · Pricier than 75% of peers
P/B 0.62× · Cheaper than median
P/S (TTM) 5.89× · Pricier than 75% of peers
P/FCF 1.4× · Cheaper than median
EV/EBITDA 19.3× · Pricier than median
PEG 5.07× · Pricier than 75% of peers

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 · sector 35
FUTURE 70 · sector 10
PAST 5 · sector 16
HEALTH 66 · sector 85
DIVIDEND 59 · sector 50

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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 Services stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
Plaza S.A MALLPLAZA 3,989 CLP 4,571 CLP +15%
PT Solusi Tunas Pratama Tbk SUPR 43,850 IDR 15,049 IDR -66%
Cencosud Shopping S.A CENCOMALLS 2,412 CLP 2,976 CLP +23%
PT Sarana Menara Nusantara Tbk. owns and TOWR 392.00 IDR 1,012 IDR +158%
PT Metropolitan Kentjana Tbk MKPI 22,000 IDR 19,160 IDR -13%
PT Bangun Kosambi Sukses Tbk, CBDK 3,610 IDR 3,464 IDR -4%
IRSA Inversiones y Representaciones Sociedad Anónima, IRSA 2,495 ARS 2,990 ARS +20%
PT Plaza Indonesia Realty Tbk PLIN 2,510 IDR 2,698 IDR +7%
PT MNC Tourism Indonesia Tbk, KPIG 74.00 IDR 122.12 IDR +65%
PT Indonesian Paradise Property Tbk INPP 770.00 IDR 291.52 IDR -62%

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Frequently asked questions

Is Fabege AB (FABG) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of kr 19.64 versus a price of kr 76.55, about −74% (overvalued).
What is the fair value of FABG?
Our model-based fair value for Fabege AB is kr 19.64 (as of Aug 14, 2026), built from audited fundamentals. The current price is kr 76.55.
What is the quality score of FABG?
Fabege AB has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Fabege AB (FABG)?
Fabege AB reported trailing-twelve-month revenue of about 3.8B SEK (latest available figure, as of Aug 14, 2026).
What is the net profit margin of FABG?
The net profit margin of Fabege AB is about -1.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Fabege AB pay a dividend?
Fabege AB currently shows a dividend yield of about 2.87% relative to its recent price (as of Aug 14, 2026).

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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