Bonava AB Class B (BONAV.B) AI Stock Analysis

• Market Cap: kr3.47B
• Dividend Yield: N/A
• Average Volume (3M): 331.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -24.13%
• EPS Growth: -70.19%
• Country: SE
• Employees: 890
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Residential Construction
• EPS (TTM): 0.03
• Shares Outstanding: 293,284,760
• 10 Day Avg. Volume: 382,127
• 30 Day Avg. Volume: 331,656
• PEG Ratio: 0.05
• Price to Book (P/B): 0.31
• Price to Sales (P/S): 0.27
• P/FCF Ratio: 3.93
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: kr11.00 ▲(0.18% Upside)

The score is held back primarily by weak financial performance (ongoing net losses, declining revenue, and negative ROE) and a valuation profile that reflects loss-making results (negative P/E, no dividend yield provided). Technicals provide the main support, with price trading above key moving averages and positive momentum indicators.

Positive Factors

Market position and diversified residential model

Bonava’s core business is residential development across Northern Europe with single-family, multi-family and urban projects. This diversified product mix and geographic focus supports durable demand exposure to housing needs, spreading execution risk across segments and projects.

Improving cash generation

Positive operating and free cash flow in recent periods mark a meaningful recovery from prior negative years. Sustained cash generation enhances project funding, lowers refinancing pressure and supports land acquisitions and working capital, improving long-term operational resilience.

Moderate leverage and balance sheet buffer

A debt-to-equity near 0.6 represents moderate sector leverage and an improvement versus prior years. Combined with sizable equity relative to assets, this provides balance sheet flexibility to weather cyclical housing markets and fund new developments without excessive refinancing stress.

Negative Factors

Persistent net losses and negative returns

Ongoing net losses and negative ROE indicate the company is not yet covering its capital base. This reduces retained capital for reinvestment, limits shareholder return potential and means profitability must be restored sustainably before growth can be financed internally.

Declining revenue trend

A multi-year decline in revenue and a steep reported drop in revenue growth signal deteriorating top-line scale. Persistent revenue contraction pressures operating leverage and margins, makes project financing harder, and raises questions about market share or execution in core markets.

Volatile free cash flow and weakened conversion

While cash flow has recovered from prior negative years, the sharp TTM drop in free cash flow shows volatility in cash conversion. Unpredictable FCF complicates funding for land purchases and developments, increasing reliance on external financing and raising execution risk.

Bonava AB Class B Business Overview & Revenue Model

Company Description

Bonava AB (publ) develops and sells residential units in Sweden, Germany, Finland, Denmark, Norway, Estonia, Lithuania, and Latvia. It offers multi-family and single-family houses; and develops homes for consumers and investors, such as pension funds, alongside municipalities, and other stakeholders. As of December 31, 2021, the company had 35,300 building rights. Bonava AB (publ) is headquartered in Stockholm, Sweden.

How the Company Makes Money

Bonava primarily generates revenue through the sale of residential properties, including both single-family homes and multi-family units. The company typically acquires land, develops residential projects, and sells the completed units to customers. Key revenue streams include direct sales to consumers, partnerships with local governments for urban development projects, and collaborations with external investors for financing large-scale developments. Additionally, Bonava may earn income from property management services and related activities. Successful project execution and strategic land acquisitions are critical to Bonava's profitability, as they allow the company to capitalize on demand for housing in its target markets.

Bonava AB Class B Financial Statement Overview

Summary

Bonava AB Class B is facing financial challenges with declining revenues and profitability. Despite some recovery in cash flows, high leverage and negative profit margins are significant risks. The company needs to stabilize revenue and improve margins to enhance financial health.

Income Statement

Bonava AB Class B has experienced significant revenue declines, with TTM revenue dropping from 2020's levels. Gross profit and net income have turned negative in the TTM period, indicating pressure on profitability. Margins are extremely weak, with negative EBIT and EBITDA margins. The company is facing challenges in converting revenue into profits.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, which indicates potential leverage risks. The company's equity ratio has decreased over time, reducing financial stability. However, the stockholders' equity has remained relatively stable, which is a positive sign amidst declining assets.

Cash Flow

Bonava AB Class B shows a recovery in operating cash flow in the TTM, turning positive after a significant negative cash flow in 2022. Free cash flow is also positive, suggesting improved cash generation capacity. However, cash flow growth has been inconsistent, which poses a risk to long-term sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.62B	8.19B	13.27B	13.99B	14.75B	17.00B
Gross Profit	955.00M	680.00M	1.42B	1.69B	1.93B	1.98B
EBITDA	413.00M	179.00M	-468.00M	970.00M	1.21B	1.34B
Net Income	-159.00M	-518.00M	-1.34B	-303.00M	808.00M	733.00M
Balance Sheet
Total Assets	16.70B	17.25B	19.10B	25.58B	23.71B	22.87B
Cash, Cash Equivalents and Short-Term Investments	394.00M	593.00M	180.00M	119.00M	1.07B	1.39B
Total Debt	4.10B	4.31B	5.82B	7.13B	4.47B	4.72B
Total Liabilities	9.93B	10.06B	12.50B	17.59B	15.39B	14.95B
Stockholders Equity	6.77B	7.18B	6.60B	7.98B	8.32B	7.92B
Cash Flow
Free Cash Flow	348.00M	566.00M	-546.00M	-3.35B	619.00M	3.68B
Operating Cash Flow	348.00M	566.00M	-337.00M	-3.24B	719.00M	3.79B
Investing Cash Flow	55.00M	56.00M	1.05B	-104.00M	-88.00M	-128.00M
Financing Cash Flow	-759.00M	-237.00M	-833.00M	2.49B	-987.00M	-2.68B

Bonava AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.98
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BONAV.B, the sentiment is Negative. The current price of 10.98 is above the 20-day moving average (MA) of 10.85, above the 50-day MA of 10.51, and below the 200-day MA of 11.22, indicating a neutral trend. The MACD of 0.18 indicates Negative momentum. The RSI at 50.38 is Neutral, neither overbought nor oversold. The STOCH value of 47.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BONAV.B.

Bonava AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BRIN.B	62 Neutral	kr3.66B	21.94	2.27%	―	51.80%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JM	56 Neutral	kr9.19B	51.35	2.25%	2.38%	-13.68%	-17.89%
CORE.A	52 Neutral	kr7.72B	-3.19	-8.81%	2.28%	-6.30%	52.27%
CORE.D	52 Neutral	kr7.72B	-164.48	―	8.13%	-6.30%	52.27%
BONAV.B	49 Neutral	kr3.47B	-22.55	-2.36%	―	-24.13%	-70.19%
SBB.B	44 Neutral	kr8.30B	69.10	1.23%	―	-11.38%	―