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ALM Equity AB
(ALM)
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Rating:50Neutral
Price Target:
kr47.00
▲(1.95% Upside)
Action:Reiterated
Date:07/17/26
The score is held back primarily by weak and volatile profitability (negative gross profit/EBIT and declining TTM revenue), despite improving cash generation and better leverage than prior peaks. Technicals are broadly neutral with longer-term trend pressure, while valuation is constrained by negative earnings (negative P/E) and no dividend yield data.
Positive Factors
Improved leverage
Leverage falling to a moderate debt-to-equity (~0.62 from ~1.68) meaningfully strengthens financial flexibility. Lower leverage reduces interest and refinancing pressure across real estate cycles, giving the firm more capacity to fund projects, bid for land, and withstand project timing shocks.
Negative Factors
Weak and volatile profitability
Persistent negative gross profit and EBIT indicate structural margin pressure in core activities. This undermines reinvestment capacity, erodes return on invested capital, and makes the business vulnerable to input-cost inflation and pricing softness, limiting long-term earnings durability.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage
Leverage falling to a moderate debt-to-equity (~0.62 from ~1.68) meaningfully strengthens financial flexibility. Lower leverage reduces interest and refinancing pressure across real estate cycles, giving the firm more capacity to fund projects, bid for land, and withstand project timing shocks.
Read all positive factors
ALM Equity AB (ALM) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr824.55M
Dividend YieldN/A
Average Volume (3M)6.77K
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue Growth-67.17%
EPS Growth88.93%
CountrySE
Employees70
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-7.01
Shares Outstanding17,358,976
10 Day Avg. Volume2,050
30 Day Avg. Volume6,768
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)0.63
Price to Sales (P/S)1.45
P/FCF Ratio284.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-8.82
Revenue Forecast (FY)kr1.27B
ALM Equity AB Business Overview & Revenue Model
Company Description
Based in Stockholm, Sweden, ALM Equity AB (publ) functions as a prominent property development firm. Established in 1997, its operations are segmented into five key areas. The Management division focuses on acquiring and overseeing compact, well-l...
How the Company Makes Money
ALM Equity AB makes money primarily through real estate development economics: acquiring or controlling land/plots, developing projects (often housing), and realizing value when completed units or projects are sold. Key revenue streams typically i...
ALM Equity AB Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 830.00M | 985.00M | 3.13B | 2.39B | 6.90B | 5.26B |
| Gross Profit | -50.00M | -63.00M | 273.00M | 242.00M | -591.00M | 3.32B |
| EBITDA | 99.00M | -91.00M | -850.00M | -2.45B | -428.00M | 3.72B |
| Net Income | 11.00M | -215.00M | -950.00M | -1.98B | -717.00M | 3.39B |
Balance Sheet | ||||||
| Total Assets | 4.26B | 4.21B | 5.47B | 7.66B | 11.52B | 13.13B |
| Cash, Cash Equivalents and Short-Term Investments | 722.00M | 901.00M | 1.77B | 517.00M | 1.18B | 2.15B |
| Total Debt | 1.30B | 1.31B | 2.01B | 4.16B | 4.31B | 5.06B |
| Total Liabilities | 1.99B | 1.86B | 2.71B | 4.68B | 5.76B | 5.98B |
| Stockholders Equity | 2.18B | 2.25B | 2.77B | 2.48B | 4.97B | 5.94B |
Cash Flow | ||||||
| Free Cash Flow | 227.00M | 5.00M | 1.11B | -1.11B | -388.00M | 828.00M |
| Operating Cash Flow | 229.00M | 8.00M | 1.12B | -1.10B | -388.00M | 832.00M |
| Investing Cash Flow | -37.00M | -30.00M | 172.00M | 770.00M | -637.00M | -2.22B |
| Financing Cash Flow | -390.00M | -829.00M | -62.00M | -295.00M | 144.00M | 2.62B |
ALM Equity AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | kr361.18M | 12.58 | ― | 13.40% | -56.21% | -9.24% | |
68 Neutral | kr9.56B | 8.40 | 9.35% | 2.58% | 3.25% | 132.51% | |
66 Neutral | kr361.18M | 12.58 | 5.09% | 13.73% | -56.21% | -9.24% | |
62 Neutral | kr3.36B | 11.10 | 5.63% | 1.41% | 0.80% | 20.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | kr824.55M | -12.82 | ― | ― | -67.17% | 88.93% |
* General Sector Average
SE:ALM
ALM Equity AB
47.80
-23.40
-32.87%
SE:TRIAN.B
Fastighets AB Trianon Class B
18.10
-0.17
-0.91%
SE:DIOS
Dios Fastigheter AB
67.00
4.78
7.69%
SE:ACRI.B
Acrinova AB Class B
8.10
-0.83
-9.26%
SE:ACRI.A
Acrinova AB Class A
8.44
-0.67
-7.33%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.