Cibus Nordic Real Estate AB (CIBUS) AI Stock Analysis

• Market Cap: kr12.42B
• Dividend Yield: 6.92%
• Average Volume (3M): 189.67K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 0.07
• Revenue Growth: 20.75%
• EPS Growth: N/A
• Country: SE
• Employees: 10
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 2.34
• Shares Outstanding: 82,086,044
• 10 Day Avg. Volume: 207,770
• 30 Day Avg. Volume: 189,667
• PEG Ratio: -0.01
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 5.52
• P/FCF Ratio: 0.00
• 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): 1.06
• Revenue Forecast (FY): kr201.15M

• Rating: 64 Neutral
• Price Target: kr155.00 ▲(7.34% Upside)
• Action: Reiterated Date: 12/18/25
• Date: Action: Reiterated 12/18/25

Cibus Nordic Real Estate AB's overall stock score is driven by strong financial performance and attractive valuation, offset by bearish technical indicators. The company's robust revenue and cash flow growth are significant strengths, but high leverage and low ROE present risks. The technical analysis suggests caution due to negative momentum.

Positive Factors

Defensive grocery‑anchored portfolio

Cibus' core strategy centers on grocery-anchored, daily-goods properties with long-term lease structures. That asset mix benefits from essential retail demand, higher tenant stickiness and lower vacancy sensitivity, supporting stable rental cash flows over multiple economic cycles.

Sustained revenue expansion

Revenue more than doubled over five years and accelerated in 2025, reflecting successful portfolio growth and leasing. Persistent top-line expansion from rental income provides a durable earnings base and supports long-term ability to service debt and fund reinvestment.

Profitability rebound and improving ROE

The sharp profitability recovery and ROE improvement indicate the portfolio is generating solid operating returns after prior losses. If sustained, higher margins and positive net income should enhance retained earnings and support gradual balance-sheet repair.

Negative Factors

Elevated financial leverage

Sustained high leverage typical of real-estate firms leaves Cibus exposed to interest-rate and refinancing risk. With sizable debt relative to equity, adverse cash-flow shocks or rising funding costs could pressure margins, credit metrics and limit strategic flexibility over the medium term.

Deteriorating cash‑flow quality

The split between accounting profits and cash generation undermines distributable cash and increases reliance on external financing for acquisitions or capex. Zero FCF in 2025 signals tighter liquidity buffers and raises risk to dividend sustainability and debt servicing if trends persist.

Earnings volatility and recent losses

Two consecutive loss years prior to 2025 highlight earnings cyclicality and execution risk. Volatile margins and intermittent losses make future cash flows harder to forecast and weaken confidence that high 2025 profitability reflects a durable run-rate rather than temporary items.

Cibus Nordic Real Estate AB Business Overview & Revenue Model

Company Description

Cibus Nordic Real Estate AB (CIBUS) is a property investment company focused on the Nordic region, primarily investing in the retail and logistics sectors. The company specializes in acquiring, managing, and developing properties that meet the needs of its tenants, with a strong emphasis on grocery-anchored retail assets and logistics facilities. CIBUS aims to create long-term value for its shareholders through strategic property investments and effective asset management.

How the Company Makes Money

Cibus generates revenue primarily through rental income from its portfolio of properties. The company leases its retail and logistics spaces to a diverse range of tenants, including grocery stores and other essential service providers, which ensures a stable and recurring revenue stream. Additionally, CIBUS benefits from long-term lease agreements, often with built-in rent escalations, which contribute to its revenue growth over time. The company may also generate income through property appreciation and potential sales of assets when market conditions are favorable. Strategic partnerships with local and regional developers can further enhance its investment opportunities and profitability.

Cibus Nordic Real Estate AB Financial Statement Overview

Summary

Cibus Nordic Real Estate AB demonstrates strong growth and operational efficiency, particularly in revenue and cash flow generation. However, the company faces challenges with high leverage and relatively low return on equity, which could pose risks if not managed carefully.

Income Statement

Cibus Nordic Real Estate AB shows a strong income statement with impressive revenue growth of 298.35% in TTM, indicating robust expansion. The company maintains high margins, with a gross profit margin of 95.43% and an EBIT margin of 73.79% in TTM, reflecting operational efficiency. However, the net profit margin of 25.61% suggests room for improvement in cost management or financial expenses.

Balance Sheet

The balance sheet reveals a moderate financial position with a debt-to-equity ratio of 1.52 in TTM, indicating a reliance on debt financing. The return on equity (ROE) is relatively low at 5.00%, suggesting limited profitability from shareholders' investments. The equity ratio stands at 36.74%, showing a balanced asset financing structure but with potential risks due to high leverage.

Cash Flow

The cash flow statement is strong, with a significant free cash flow growth rate of 233.43% in TTM, highlighting improved cash generation capabilities. The operating cash flow to net income ratio of 0.47 indicates a healthy conversion of income to cash, although it could be higher. The free cash flow to net income ratio of 1.0 suggests efficient cash utilization.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	192.34M	142.40M	140.00M	124.02M	93.75M
Gross Profit	160.15M	137.39M	114.73M	99.61M	76.33M
EBITDA	166.77M	42.29M	24.68M	125.77M	79.56M
Net Income	93.11M	-4.76M	-19.92M	79.99M	51.37M
Balance Sheet
Total Assets	2.74B	1.94B	1.85B	1.93B	1.57B
Cash, Cash Equivalents and Short-Term Investments	54.71M	50.79M	31.53M	45.99M	51.05M
Total Debt	1.61B	1.15B	1.06B	1.15B	926.97M
Total Liabilities	1.75B	1.23B	1.16B	1.23B	987.45M
Stockholders Equity	987.75M	708.74M	693.19M	697.81M	583.26M
Cash Flow
Free Cash Flow	0.00	102.54M	101.85M	68.12M	53.26M
Operating Cash Flow	74.78M	102.54M	101.85M	68.12M	53.26M
Investing Cash Flow	-228.00M	-129.40M	-5.43M	-344.94M	-179.68M
Financing Cash Flow	156.99M	46.42M	-110.85M	272.27M	140.78M

Cibus Nordic Real Estate AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 144.40
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CIBUS, the sentiment is Negative. The current price of 144.4 is below the 20-day moving average (MA) of 152.51, below the 50-day MA of 149.68, and below the 200-day MA of 161.56, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 47.98 is Neutral, neither overbought nor oversold. The STOCH value of 57.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CIBUS.

Cibus Nordic Real Estate AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NP3	68 Neutral	kr16.41B	13.00	12.28%	1.75%	14.33%	204.60%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CIBUS	64 Neutral	kr12.42B	11.88	8.13%	6.92%	20.75%	―
PLAZ.B	60 Neutral	kr9.19B	13.66	5.26%	2.91%	8.42%	―
NYF	47 Neutral	kr15.10B	28.43	3.19%	1.93%	0.03%	―
CORE.A	45 Neutral	kr6.98B	-1.69	-8.81%	2.28%	-6.30%	52.27%
SBB.B	44 Neutral	kr6.88B	-3.32	1.23%	―	-11.38%	―