Eastnine AB (SE:EAST)
:EAST
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Eastnine AB
(EAST)
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Rating:60Neutral
Price Target:
kr46.00
▼(-7.07% Downside)
Action:ReiteratedDate:04/30/26
Overall score reflects mixed fundamentals: financial performance is acceptable but pressured by TTM revenue contraction, earnings/cash-flow variability, and elevated leverage. Technical indicators are notably weak and weigh on the score, partially offset by supportive valuation (low P/E and a moderate dividend yield).
Positive Factors
Recurring rental revenue model
A business model driven by rental income and pass-throughs provides predictable, recurring cash flows over lease terms. This durability supports stable net operating income and coverage of fixed costs, making operations less dependent on transaction timing and more resilient over a multi-month horizon.
Negative Factors
Sharp 2025 revenue contraction
A ~72% revenue drop in 2025 signals material deterioration in the core rent or leasing base or one-off portfolio changes. Such a steep decline can materially reduce net operating income, strain cash available for capex/dividends, and weaken covenant headroom, impacting financial durability over coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring rental revenue model
A business model driven by rental income and pass-throughs provides predictable, recurring cash flows over lease terms. This durability supports stable net operating income and coverage of fixed costs, making operations less dependent on transaction timing and more resilient over a multi-month horizon.
Read all positive factors
Eastnine AB (EAST) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr4.31B
Dividend Yield2.39%
Average Volume (3M)74.07K
Price to Earnings (P/E)10.6
Beta (1Y)0.43
Revenue Growth43.78%
EPS Growth532.36%
CountrySE
Employees23
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.82
Shares Outstanding98,241,730
10 Day Avg. Volume123,278
30 Day Avg. Volume74,072
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.97
Price to Sales (P/S)7.72
P/FCF Ratio84.31
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)0.34
Revenue Forecast (FY)kr63.13M
Eastnine AB Business Overview & Revenue Model
Company Description
Eastnine AB (publ) is a real estate investment firm. The firm seeks to make emerging growth investments. In the beginning of 2017 it shifted its focus from both public and unlisted equity investments to purely real estate, where it makes investmen...
How the Company Makes Money
Eastnine primarily makes money through (1) rental income from leasing office space to tenants across its property portfolio and (2) property-related income associated with operating and managing those buildings (e.g., lease-related service charges...
Eastnine AB Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
56
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 204.13M | 58.65M | 41.52M | 36.17M | 30.30M | 21.53M |
| Gross Profit | 57.98M | 58.65M | 41.52M | 36.17M | 30.30M | 21.53M |
| EBITDA | 165.55M | 58.72M | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | 26.89M | 42.52M | 5.91M | -72.05M | 108.56M | 72.33M |
Balance Sheet | ||||||
| Total Assets | 1.05B | 1.03B | 982.64M | 713.12M | 837.47M | 652.52M |
| Cash, Cash Equivalents and Short-Term Investments | 63.64M | 50.65M | 31.18M | 128.62M | 19.82M | 29.20M |
| Total Debt | 522.85M | 512.28M | 454.85M | 286.44M | 329.10M | 242.42M |
| Total Liabilities | 572.94M | 562.81M | 545.38M | 312.94M | 358.97M | 276.52M |
| Stockholders Equity | 477.97M | 467.90M | 437.26M | 400.18M | 478.51M | 375.99M |
Cash Flow | ||||||
| Free Cash Flow | 51.68M | 5.37M | 24.71M | 16.70M | 19.52M | 17.39M |
| Operating Cash Flow | 52.80M | 5.79M | 24.73M | 16.73M | 19.55M | 17.49M |
| Investing Cash Flow | -8.09M | -2.13M | -324.88M | 141.33M | -108.26M | -75.45M |
| Financing Cash Flow | 8.53M | -4.57M | 202.69M | -49.27M | 79.28M | 62.94M |
Eastnine AB Peers Comparison
UnderperformOutperform
Sector (65)
SE:EAST
Eastnine AB
44.05
0.06
0.15%
DE:075
Brinova Fastigheter AB Class B
1.20
-0.35
-22.40%
DE:6XXH
Stenhus Fastigheter i Norden AB
1.06
0.17
19.50%
DE:733
Fortinova Fastigheter AB
2.30
-0.05
-2.13%
DE:6D90
K-Fast Holding AB Class B
0.88
-0.20
-18.39%
SE:GPG
Genova Property Group AB
36.90
-7.37
-16.64%
Eastnine AB Corporate Events
Eastnine AGM Backs Dividend, New Board Mandates and Employee Warrant Plan
Apr 29, 2026
Eastnine’s 2026 Annual General Meeting approved the 2025 financial statements and set a quarterly dividend totaling SEK 1.28 per share, while re-electing key board members, appointing two new directors, and confirming KPMG as auditor with up...
Eastnine Stays Profitable as It Sells Riga Offices and Prepares for New Acquisitions
Apr 28, 2026
Eastnine reported stable profit from property management in the first quarter of 2026 despite a cold winter, higher energy costs and a slightly lower average occupancy rate, with modest declines in rental income, net operating income and overall p...
Eastnine Sets Date for Q1 2026 Results Presentation
Apr 21, 2026
Eastnine has invited investors, analysts and media to a presentation of its interim report for the first quarter of 2026, to be held on 28 April at 15:00 CET in Stockholm and via webcast. The Q1 report will be published one hour earlier the same d...
Eastnine Sells Two Riga Offices to Indexo Real Estate Fund for EUR 38 Million
Apr 20, 2026
Eastnine has agreed to sell two central Riga office properties, Alojas Biroji and Zala 1, to Indexo Real Estate Fund for about EUR 38 million, matching their book value. The transaction, structured as share deals and subject to financing and compe...
Eastnine Publishes 2025 Annual Report in English to Broaden Investor Reach
Apr 14, 2026
Eastnine AB has released its 2025 Annual Report in English, complementing the Swedish version that was published in late March and making the company’s full-year information accessible to a broader international audience. By providing both l...
Eastnine Posts Record 2025 Results and Targets New Warsaw Deals
Mar 26, 2026
Eastnine has published its 2025 Annual Report in Swedish, with an English version to follow, and highlighted record results driven by major Polish acquisitions and rising rents in its office portfolio. The company reported its best‑ever prof...
Eastnine Secures SBTi Validation for Net-Zero Climate Targets by 2040
Mar 25, 2026
Eastnine AB, a Swedish office-focused real estate company listed on Nasdaq Stockholm Mid Cap, operates a portfolio of office properties in rapidly expanding European markets. The group is increasingly integrating climate objectives into its busine...
Eastnine Calls 2026 AGM, Sets Terms for Shareholder Participation
Mar 19, 2026
Eastnine AB, the Swedish Nasdaq-listed real estate company focused on office properties in fast-growing parts of Europe, is convening its Annual General Meeting for shareholders in Stockholm on 29 April 2026. The company has 98,241,728 registered ...
Eastnine Proposes Two New Board Members to Support Growth Strategy
Mar 13, 2026
Eastnine’s nomination committee has proposed two new members, Henrik Rättzén and Eric Spongberg, to join the board of directors while recommending the re-election of existing members, including chair Louise Richnau, at the 2026 ann...
Eastnine Delivers Record Property Management Profit and Raises Dividend on Strong 2025
Feb 5, 2026
Eastnine AB reported a record profit from property management in 2025, up 40% year on year to EUR 31.0m, driven mainly by two Polish acquisitions completed in 2024 and a 49% increase in rental income. The company improved annual net operating inco...
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.