Financials Fabege AB

Equities

FABG

SE0011166974

Real Estate Development & Operations

Delayed Nasdaq Stockholm 06:59:50 2024-05-08 am EDT 5-day change 1st Jan Change
90.4 SEK -0.39% Intraday chart for Fabege AB +3.97% -16.45%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 51,503 42,453 48,799 27,903 34,037 28,548 - -
Enterprise Value (EV) 1 77,893 70,616 80,160 62,400 67,883 63,390 63,335 62,701
P/E ratio 8.57 x 13.4 x 9.06 x 11.8 x -6.17 x 298 x 18.3 x 14.1 x
Yield 2.06% 2.78% 2.64% 2.71% 1.66% 2.11% 2.25% 2.36%
Capitalization / Revenue 18 x 15.1 x 16.9 x 9.2 x 10.1 x 8.31 x 7.87 x 7.43 x
EV / Revenue 27.3 x 25.2 x 27.7 x 20.6 x 20.2 x 18.5 x 17.5 x 16.3 x
EV / EBITDA 37.8 x 35 x 38.6 x 29.2 x 27.9 x 25.8 x 24.5 x 23.2 x
EV / FCF -155 x -148 x -54.9 x -281 x 54.8 x -40.1 x 402 x 117 x
FCF Yield -0.64% -0.68% -1.82% -0.36% 1.82% -2.49% 0.25% 0.86%
Price to Book 1.29 x 1.02 x 1.07 x 0.61 x 0.87 x 0.76 x 0.75 x 0.73 x
Nbr of stocks (in thousands) 330,783 328,206 321,998 314,577 314,577 314,577 - -
Reference price 2 155.7 129.4 151.6 88.70 108.2 90.75 90.75 90.75
Announcement Date 2/5/20 2/4/21 2/7/22 2/6/23 2/7/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,856 2,806 2,889 3,032 3,366 3,435 3,629 3,844
EBITDA 1 2,060 2,019 2,075 2,138 2,431 2,460 2,584 2,703
EBIT 1 2,059 2,019 2,066 2,059 2,431 2,421 2,617 2,772
Operating Margin 72.09% 71.95% 71.51% 67.91% 72.22% 70.46% 72.13% 72.09%
Earnings before Tax (EBT) 1 7,034 4,007 6,712 2,964 -7,380 200.7 2,035 2,241
Net income 1 6,006 3,167 5,400 2,376 -5,518 95.67 1,640 1,866
Net margin 210.29% 112.87% 186.92% 78.36% -163.93% 2.78% 45.19% 48.54%
EPS 2 18.16 9.650 16.73 7.490 -17.54 0.3041 4.961 6.424
Free Cash Flow 1 -501 -477 -1,461 -222 1,238 -1,579 157.5 537.5
FCF margin -17.54% -17% -50.57% -7.32% 36.78% -45.96% 4.34% 13.98%
FCF Conversion (EBITDA) - - - - 50.93% - 6.09% 19.89%
FCF Conversion (Net income) - - - - - - 9.61% 28.8%
Dividend per Share 2 3.200 3.600 4.000 2.400 1.800 1.914 2.040 2.141
Announcement Date 2/5/20 2/4/21 2/7/22 2/6/23 2/7/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 746 762 717 771 781 829 855 854 827 867 851.5 857.2 859.7 - -
EBITDA 1 544 522 509 569 549 594 619 628 589 591 611.2 627.8 610.3 613 649
EBIT 1 536 522 509 569 460 594 619 628 589 591 602 624 612 629.6 665.6
Operating Margin 71.85% 68.5% 70.99% 73.8% 58.9% 71.65% 72.4% 73.54% 71.22% 68.17% 70.69% 72.79% 71.19% - -
Earnings before Tax (EBT) 1 2,723 3,495 2,023 939 -3,494 -1,977 -1,246 -1,197 -2,961 -836 302.9 316 442.9 325 364
Net income 1 2,258 2,782 1,595 728 -2,729 -1,584 -952 -992 -1,991 -699 234.8 245.8 361.3 241 275
Net margin 302.68% 365.09% 222.45% 94.42% -349.42% -191.07% -111.35% -116.16% -240.75% -80.62% 27.57% 28.68% 42.03% - -
EPS 2 7.010 8.690 5.010 2.300 -8.560 -5.040 -3.030 -3.150 -6.330 -2.220 0.8100 0.8700 0.8100 0.7700 0.8700
Dividend per Share 2 4.000 - - - 2.400 - - - 1.800 - 0.4500 0.4500 0.4500 - -
Announcement Date 2/7/22 4/26/22 7/8/22 10/20/22 2/6/23 4/26/23 7/7/23 10/19/23 2/7/24 4/25/24 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 26,390 28,163 31,361 34,497 33,846 34,842 34,787 34,154
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 12.81 x 13.95 x 15.11 x 16.14 x 13.92 x 14.16 x 13.46 x 12.64 x
Free Cash Flow 1 -501 -477 -1,461 -222 1,238 -1,579 158 538
ROE (net income / shareholders' equity) 16% 7.76% 12.5% 5.2% -13% 0.25% 4.09% 4.29%
ROA (Net income/ Total Assets) 8.26% 4.07% 6.46% 2.64% -6.3% -1.12% 1.75% 2.07%
Assets 1 72,686 77,853 83,591 90,000 87,651 -8,527 93,666 90,245
Book Value Per Share 2 121.0 127.0 141.0 145.0 125.0 120.0 121.0 124.0
Cash Flow per Share - - - - - - - -
Capex 1 2,518 1,826 1,890 2,214 2,978 2,766 1,497 1,199
Capex / Sales 88.17% 65.07% 65.42% 73.02% 88.47% 80.5% 41.25% 31.19%
Announcement Date 2/5/20 2/4/21 2/7/22 2/6/23 2/7/24 - - -
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
9
Last Close Price
90.75 SEK
Average target price
89.13 SEK
Spread / Average Target
-1.78%
Consensus
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