Valuation Balder

Stocks

Real-time Estimate Cboe Europe 07:50:12 2026-10-30 am EDT			5-day change	1st Jan Change
47.95 ^SEK	-0.17%		-2.04%	-29.59%

Oct. 27	Kepler Cheuvreux lowers price target for Balder to SEK57 (61), reiterates buy	FW
Oct. 26	Länsförsäkringar Fastighetsfond fell 7.88 percent in September, rising long-term rates pressured sector	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	121,561	55,992	82,534	91,392	81,158	55,571	-	-
Change	-	-53.94%	47.4%	10.73%	-11.2%	-31.53%	-	-
Enterprise Value (EV) ¹	236,463	182,220	209,336	223,800	213,956	198,028	197,160	195,625
Change	-	-22.94%	14.88%	6.91%	-4.4%	-7.44%	-0.44%	-0.78%
P/E	6.57x	5.34x	-12.2x	27.2x	11.6x	9.93x	9.84x	9.25x
PBR	1.57x	0.62x	1x	1.03x	0.86x	0.58x	0.55x	0.51x
PEG	-	-0.1x	0x	-0x	0x	-0.6x	11.11x	1.46x
Capitalization / Revenue	13.6x	5.32x	6.91x	7.1x	5.91x	3.87x	3.7x	3.6x
EV / Revenue	26.4x	17.3x	17.5x	17.4x	15.6x	13.8x	13.1x	12.7x
EV / EBITDA	39.9x	26.9x	24.3x	26.2x	23.4x	20.1x	18.8x	18x
EV / EBIT	36.5x	27x	24.3x	26.6x	23.6x	19x	17.6x	17x
EV / FCF	-8.34x	-23.2x	-155x	117x	150x	264x	230x	183x
FCF Yield	-12%	-4.32%	-0.65%	0.85%	0.67%	0.38%	0.44%	0.55%
Dividend per Share ²	-	-	-	-	-	-	-	-
Rate of return	-	-	-	-	-	-	-	-
EPS ²	16.54	9.09	-5.85	2.82	5.86	4.838	4.881	5.191
Distribution rate	-	-	-	-	-	-	-	-
Net sales ¹	8,956	10,521	11,944	12,876	13,721	14,344	15,010	15,445
EBITDA ¹	5,927	6,777	8,624	8,533	9,154	9,874	10,493	10,852
EBIT ¹	6,480	6,760	8,608	8,425	9,063	10,417	11,211	11,506
Net income ¹	18,508	10,175	-6,746	3,304	7,621	5,627	5,149	5,264
Net Debt ¹	114,902	126,228	126,802	132,408	132,798	142,458	141,590	140,054
Reference price ²	108.63	48.52	71.52	76.80	68.20	48.03	48.03	48.03
Nbr of stocks (in thousands)	1,119,000	1,154,000	1,154,000	1,190,000	1,190,000	1,157,000	-	-
Announcement Date	2/11/22	2/10/23	2/9/24	2/7/25	2/6/26	-	-	-

¹SEK in Million²SEK

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
BALDER	10.22x	13.81x	20.06x	-.--%	5.64B
VINGROUP	65.15x	-	-	-	70.02B
SUN HUNG KAI PROPERTIES LIMITED	12.47x	4.37x	11.22x	3.86%	39.48B
MITSUBISHI ESTATE CO., LTD.	18.62x	4.04x	16.26x	1.32%	28.72B
EMAAR PROPERTIES	5.68x	0.75x	1.56x	8.71%	27.63B
CHINA RESOURCES LAND LIMITED	7.97x	1.46x	8.19x	4.44%	26.54B
MITSUI FUDOSAN CO., LTD.	14.44x	3.15x	15.07x	2.42%	26.64B
CK ASSET HOLDINGS LIMITED	10.23x	2.01x	7.74x	4.1%	20.56B
VINHOMES	8.24x	2.9x	6.79x	-.--%	19.76B
ALPHA DHABI HOLDING	7.44x	0.82x	3x	3%	19.02B
Average	16.05x	3.70x	9.99x	3.1%	28.4B
Weighted average by Cap.	24.34x	2.92x	9.51x	3.53%