Corem Property Group AB Class D (CORE.D) AI Stock Analysis

• Market Cap: kr6.43B
• Dividend Yield: 8.13%
• Average Volume (3M): 7.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.20
• Revenue Growth: -6.30%
• EPS Growth: 52.27%
• Country: SE
• Employees: 280
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -1.67
• Shares Outstanding: 7,545,809
• 10 Day Avg. Volume: 4,722
• 30 Day Avg. Volume: 7,907
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 1.61
• P/FCF Ratio: 6.87
• 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: kr237.00 ▼(-1.46% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held down primarily by weak financial performance—multi-year net losses, declining revenue, and high leverage with limited cash flow coverage of debt. Technical indicators are broadly neutral with slight negative momentum, while valuation is modestly supported by a high dividend yield but constrained by the negative P/E.

Positive Factors

Recurring rental income model

Corem’s core revenue comes from contracted rental income across office and logistics assets, providing durable, recurring cash flows. Lease income and recoveries create predictable operating receipts that support operations, refinancing and value-add investment over the medium term.

Consistent operating and free cash flow

Consistent positive operating and free cash flow provides an enduring liquidity buffer, enabling reinvestment in properties, debt servicing and selective development without sole reliance on capital markets. This cash generation underpins operational continuity through cycles.

High, steady gross margins

Sustained mid-60% gross margins indicate structural operating leverage in property operations and project margins. Strong underlying margins provide room to absorb some revenue pressure while still funding maintenance, refurbishments and targeted asset repositioning to protect long-term net operating income.

Negative Factors

Declining revenue trend

A multi-year revenue decline undermines net operating income and reduces scale economics. Persistent top-line erosion pressures coverage metrics, limits capacity for reinvestment and raises the bar for operational recovery, requiring sustained demand or successful asset repositioning to reverse.

High leverage, limited balance-sheet flexibility

Elevated debt-to-equity and rising leverage increase refinancing and interest-rate vulnerability. With limited cash flow coverage of total debt, leverage constrains strategic options, raises default risk in stress, and forces prioritization of debt service over growth or dividend stability across quarters.

Multi-year net losses and volatile earnings

Sustained net losses and volatile profitability erode equity and restrict retained earnings for capex or renovations. Large negative margins reflect valuation swings or impairments and reduce investor cushion, potentially forcing asset sales or higher leverage to maintain distributions or operations.

Corem Property Group AB Class D Business Overview & Revenue Model

Company Description

Corem Property Group AB (publ), a real estate company, owns, manages, and develops industrial, warehouse, logistics, and retail properties in the Nordic region. As of December 31, 2021, it had 518 properties with a total lettable area of 3,479 thousand square kilometers. Corem Property Group AB (publ) was incorporated in 1993 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Corem Property Group AB generates revenue primarily through leasing its commercial properties to a diverse range of tenants, including retail chains, office users, and logistics companies. The company earns rental income from long-term leases, which provides a steady cash flow. Additionally, Corem may realize revenue through property sales when market conditions are favorable, allowing them to capitalize on property appreciation. The company also engages in property development projects, which can provide significant returns upon completion and leasing. Strategic partnerships with local municipalities and other real estate entities enhance Corem's market position and can lead to collaborative projects, further contributing to revenue generation.

Corem Property Group AB Class D Financial Statement Overview

Summary

Financial statements indicate below-average resilience: revenues have trended down (2023–2025), earnings are highly volatile with net losses in 2023–2025 (very weak 2025 net margin near -96%), and leverage is meaningful (debt above equity, highest in 2025). Offsetting positives include strong, steady gross margins (mid-60% range) and consistently positive operating/free cash flow, though cash flow coverage of debt is low (~5%–13%) and has declined from 2022.

Income Statement

Revenue has trended down over the last three annual periods (2023–2025), and profitability has been highly volatile. While gross profit margins have stayed strong and fairly steady (roughly mid-60% range), the company reported net losses in 2023–2025, including a very weak 2025 result (net margin near -96%). 2021–2022 showed outsized profits, but the sharp reversal since then points to unstable earnings quality and elevated sensitivity to market/valuation swings.

Balance Sheet

The balance sheet is meaningfully levered, with debt consistently above equity (debt-to-equity mostly ~1.4–1.9x) and 2025 showing the highest leverage in the period. Equity remains sizable, but returns on equity turned negative in 2023–2025, reflecting value erosion and weaker earnings power. The overall profile suggests limited balance-sheet flexibility if asset values or financing conditions worsen.

Cash Flow

Operating cash flow and free cash flow were positive each year, which supports liquidity despite accounting losses. However, cash generation is modest relative to the debt load (cash flow covering only ~5%–13% of total debt across the period), and operating cash flow declined materially from 2022 levels. 2025 free cash flow improved versus 2024, but the company still appears reliant on stable financing/asset markets given the low cash flow coverage.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.46B	3.69B	4.24B	4.49B	2.91B
Gross Profit	2.21B	2.36B	2.88B	2.93B	1.87B
EBITDA	-2.62B	118.00M	2.73B	1.20B	5.29B
Net Income	-3.31B	-1.06B	-7.97B	3.03B	4.58B
Balance Sheet
Total Assets	53.13B	61.78B	64.85B	90.86B	92.24B
Cash, Cash Equivalents and Short-Term Investments	1.80B	586.00M	429.00M	2.08B	571.00M
Total Debt	31.65B	32.97B	34.71B	49.54B	47.83B
Total Liabilities	36.64B	40.27B	42.83B	59.55B	58.30B
Stockholders Equity	16.49B	21.51B	22.00B	31.27B	33.34B
Cash Flow
Free Cash Flow	812.00M	920.00M	718.00M	2.19B	927.00M
Operating Cash Flow	812.00M	920.00M	718.00M	2.23B	1.19B
Investing Cash Flow	3.73B	1.67B	13.83B	-1.29B	-954.00M
Financing Cash Flow	-3.29B	-2.44B	-15.10B	-583.00M	356.00M

Corem Property Group AB Class D Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 240.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CORE.D, the sentiment is Neutral. The current price of 240.5 is above the 20-day moving average (MA) of 235.35, above the 50-day MA of 237.96, and above the 200-day MA of 232.16, indicating a neutral trend. The MACD of -2.87 indicates Positive momentum. The RSI at 47.77 is Neutral, neither overbought nor oversold. The STOCH value of 47.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:CORE.D.

Corem Property Group AB Class D Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFAST	70 Neutral	kr4.00B	11.14	6.08%	1.80%	-2.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
PLAZ.B	60 Neutral	kr8.82B	12.58	5.26%	2.91%	8.42%	―
EAST	57 Neutral	kr4.73B	10.23	―	2.39%	―	―
CORE.D	49 Neutral	kr6.43B	-89.91	―	8.13%	-6.30%	52.27%
CORE.A	45 Neutral	kr6.43B	-1.60	-8.81%	2.28%	-6.30%	52.27%
SBB.B	44 Neutral	kr7.36B	58.33	1.23%	―	-11.38%	―