Dios Fastigheter AB (DIOS) AI Stock Analysis

• Market Cap: kr9.81B
• Dividend Yield: 2.58%
• Average Volume (3M): 224.74K
• Price to Earnings (P/E): 12.2
• Beta (1Y): 0.35
• Revenue Growth: 3.27%
• EPS Growth: N/A
• Country: SE
• Employees: 150
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Diversified
• EPS (TTM): 1.61
• Shares Outstanding: 141,785,170
• 10 Day Avg. Volume: 226,523
• 30 Day Avg. Volume: 224,742
• PEG Ratio: 0.70
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 3.49
• P/FCF Ratio: 10.37
• 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): 6.95
• Revenue Forecast (FY): kr2.67B

• Rating: 67 Neutral
• Price Target: kr74.00 ▲(14.46% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by resilient operating fundamentals and steady cash generation, tempered by elevated leverage and earnings volatility. Technicals are supportive with the stock trading above key moving averages and positive momentum, while valuation looks reasonable with a modest P/E and a ~3.24% dividend yield.

Positive Factors

High operating margins

DIOS reports consistently strong operating profitability (EBIT margins in the mid‑60% range). High property-level margins produce durable cash conversion from rental operations, providing a structural buffer against cyclical rent volatility and supporting reinvestment and stable distributions over time.

Stable recurring revenue

The business generates recurring rental income with modest, steady revenue growth across recent years. Predictable lease cash flows from urban commercial assets support long-term cash generation, easier forecasting for maintenance and development, and resilience to short-term tenant churn.

Solid historical cash generation

Consistently positive operating cash flow and historically matching free cash flow provide a foundation for funding capex, redevelopment and debt service. This structural cash generation enhances financial flexibility and supports recurring investment without full reliance on external financing.

Negative Factors

Elevated leverage

Leverage is meaningfully elevated for a property owner, increasing exposure to refinancing and interest-rate cycles. High debt levels constrain balance sheet flexibility, raise financing costs in adverse conditions and heighten default risk if cash flows weaken or capex needs rise.

Volatile net income

Earnings volatility—driven by large non-recurring losses and recoveries—reduces clarity on recurring profitability and makes long-term planning harder. This variability can limit management's ability to commit to steady dividends or predictable capex, and can affect lender and investor confidence.

Weakening free cash flow trend

A recent multi-year decline in free cash flow erodes internal funding capacity for development and debt service. Persistent FCF weakness may force asset disposals or additional borrowing, reducing strategic optionality and increasing sensitivity to cyclical downturns in commercial leasing.

Dios Fastigheter AB Business Overview & Revenue Model

Company Description

Diös Fastigheter AB (publ) develops, owns, and rents commercial and residential properties in Sweden. It holds a portfolio of 339 properties and a lettable area of 1,564,000 sq.m with meeting places, shops, offices, and homes. The company was founded in 1921 and is headquartered in Ostersund, Sweden.

How the Company Makes Money

Dios Fastigheter AB generates revenue primarily through rental income from its portfolio of residential and commercial properties. The company leases spaces to a diverse range of tenants, ensuring a steady cash flow. Additionally, DIOS earns income through property management services, where it charges fees for managing properties on behalf of other owners. The company may also generate revenue from property sales and development projects, capitalizing on market demand and property value appreciation. Strategic partnerships with local contractors and real estate brokers enhance its operational efficiency and market reach, contributing to its overall profitability.

Dios Fastigheter AB Financial Statement Overview

Summary

Stable to modestly growing revenue and consistently strong operating profitability support the score, alongside solid positive operating/free cash flow. Offsetting factors are elevated leverage (debt-to-equity ~1.35–1.57) and volatile net income (including a loss year), which reduce earnings predictability and increase financing sensitivity.

Income Statement

Revenue has been broadly stable to modestly growing (2024 ~+0.9%, 2025 ~+5.3% YoY), and profitability at the operating line is consistently strong (EBIT margins in the mid‑60% range in 2022–2024). Net income, however, has been volatile (large loss in 2023 followed by a recovery in 2024–2025), which reduces earnings quality and predictability despite healthy underlying property operating performance.

Balance Sheet

The balance sheet is asset-heavy with a meaningful equity base (2025 equity ~12.2B vs assets ~33.4B), but leverage is elevated for the period shown (debt-to-equity ~1.35–1.57 in 2022–2024). Debt has remained high and slightly increasing (about 16.3B in 2022 to 17.5B in 2025), leaving the company more exposed to refinancing and rate sensitivity typical for real estate, even as equity has improved since 2023.

Cash Flow

Cash generation is solid and consistently positive, with operating cash flow ranging roughly 0.7B–1.1B across 2020–2025 and free cash flow generally matching operating cash flow. That said, free cash flow growth has turned negative in recent years (down in 2023, 2024, and 2025), indicating weakening momentum in cash generation even as reported earnings recovered.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.66B	2.53B	2.50B	2.21B	1.96B
Gross Profit	1.83B	1.73B	1.71B	1.47B	1.28B
EBITDA	1.79B	1.67B	1.63B	1.29B	1.22B
Net Income	808.00M	691.00M	-850.00M	830.00M	2.31B
Balance Sheet
Total Assets	33.36B	32.23B	31.71B	31.73B	29.44B
Cash, Cash Equivalents and Short-Term Investments	321.00M	405.00M	98.00M	88.00M	1.15B
Total Debt	17.49B	17.09B	17.17B	16.32B	14.80B
Total Liabilities	21.18B	20.57B	20.75B	19.63B	17.61B
Stockholders Equity	12.18B	11.66B	10.97B	12.10B	11.75B
Cash Flow
Free Cash Flow	897.00M	749.00M	984.00M	1.17B	1.01B
Operating Cash Flow	897.00M	749.00M	984.00M	1.14B	1.01B
Investing Cash Flow	-1.19B	-266.00M	-1.45B	-3.28B	-1.68B
Financing Cash Flow	214.00M	-176.00M	479.00M	1.08B	1.81B

Dios Fastigheter AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 64.65
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:DIOS, the sentiment is Positive. The current price of 64.65 is below the 20-day moving average (MA) of 66.92, below the 50-day MA of 65.38, and below the 200-day MA of 64.83, indicating a bullish trend. The MACD of 1.42 indicates Negative momentum. The RSI at 60.39 is Neutral, neither overbought nor oversold. The STOCH value of 80.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:DIOS.

Dios Fastigheter AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DIOS	67 Neutral	kr9.81B	12.17	6.82%	2.58%	3.27%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
CIBUS	64 Neutral	kr12.60B	11.93	8.13%	6.92%	20.75%	―
PLAZ.B	60 Neutral	kr9.18B	13.09	5.26%	2.91%	8.42%	―
CORE.A	45 Neutral	kr6.84B	-1.66	-8.81%	2.28%	-6.30%	52.27%
SBB.B	44 Neutral	kr7.47B	-3.29	1.23%	―	-11.38%	―