K-Fast Holding AB Class B (KFAST.B) AI Stock Analysis

• Market Cap: kr2.21B
• Dividend Yield: N/A
• Average Volume (3M): 239.98K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.51
• Revenue Growth: 58.82%
• EPS Growth: N/A
• Country: SE
• Employees: 565
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Real Estate - Services
• EPS (TTM): -0.16
• Shares Outstanding: 223,493,160
• 10 Day Avg. Volume: 214,724
• 30 Day Avg. Volume: 239,978
• PEG Ratio: 0.16
• Price to Book (P/B): 0.63
• Price to Sales (P/S): 1.67
• P/FCF Ratio: 4.51
• 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): 0.75
• Revenue Forecast (FY): kr1.30B

• Rating: 44 Neutral
• Price Target: kr11.50 ▼(-9.02% Downside)
• Action: Upgraded Date: 11/28/25
• Date: Action: Upgraded 11/28/25

The overall stock score is primarily influenced by the company's mixed financial performance, characterized by strong revenue growth but significant profitability and cash flow challenges. Technical analysis suggests potential bearish momentum, while the high P/E ratio indicates overvaluation concerns. The absence of earnings call insights and corporate events leaves these factors unaddressed.

Positive Factors

Recurring rental business model

K‑Fast's core business is recurring rental income from multifamily housing supplemented by development upside. This combination supports predictable cash inflows and portfolio growth over time; industrialized building methods can lower per-unit costs and accelerate delivery of rentable assets.

2025 revenue growth and operating margins

Revenue growth of ~12% in 2025 alongside a ~25% operating margin indicates the company can scale rental and development operations with healthy core profitability. Sustained mid/high operating margins support internal reinvestment and reinforce the business model's ability to generate operating cash across market cycles.

Recent positive free cash flow

The 2025 positive operating and free cash flow marks a material improvement, providing internal liquidity for project funding, debt service and capital expenditure. If maintained, consistent FCF reduces reliance on external financing and strengthens execution of the rental portfolio and development pipeline.

Negative Factors

High and rising leverage

Leverage rising to ~3.1x debt/equity materially increases refinancing and interest-rate exposure for an asset-heavy real estate firm. High leverage limits financial flexibility, raises covenant and liquidity risk during downturns, and amplifies the impact of any revenue or cash-flow setbacks on solvency.

Earnings volatility and recent net losses

Intermittent net losses despite solid operating margins point to volatile non-operating items or valuation swings, reducing predictability of shareholder returns. Earnings inconsistency complicates planning, can trigger covenant breaches, and makes it harder to demonstrate sustainable profitability to lenders and investors.

Inconsistent historical cash generation

A history of large FCF swings undermines confidence that 2025's positive cash generation is durable. Irregular cash conversion limits capacity to self-fund development, raises dependence on external financing in some years, and increases vulnerability to cyclical pressure in the property market.

K-Fast Holding AB Class B Business Overview & Revenue Model

Company Description

K-Fast Holding AB (publ) operates as a project development, construction, and property company in Sweden. The company focuses primarily on rental housing properties. Its property portfolio includes low-rise and lateral low-rise buildings, and apartment blocks, as well as commercial properties. As of December 31, 2021, the company's property and project portfolio comprised of 10,585 apartments. K-Fast Holding AB (publ) was incorporated in 2010 and is headquartered in Hässleholm, Sweden.

How the Company Makes Money

K-Fast Holding generates revenue primarily through the development and sale of residential properties. The company's revenue model is anchored in several key streams: first, it earns income by selling completed residential units to private buyers and investors. Second, K-Fast engages in long-term rental agreements, generating steady cash flow through its property management services. Additionally, the company benefits from partnerships with municipalities and other stakeholders, facilitating land acquisitions and development projects. Strategic collaborations with construction firms and suppliers also enhance operational efficiency and cost management, contributing to overall profitability.

K-Fast Holding AB Class B Financial Statement Overview

Summary

K-Fast Holding AB Class B exhibits a mixed financial performance. While revenue growth and operational margins are strong, the company faces profitability challenges with a negative net profit margin. The balance sheet shows high leverage, posing financial stability risks. Cash flow management is a significant concern, with negative free cash flow growth. The company needs to address these issues to enhance financial health and stability.

Income Statement

The company shows a mixed performance in its income statement. The TTM data indicates a gross profit margin of 42.38%, which is relatively healthy. However, the net profit margin is negative at -5.07%, indicating profitability challenges. Revenue growth is strong at 14.49% TTM, showing positive momentum. EBIT and EBITDA margins are solid at 35.53% and 40.51% respectively, suggesting operational efficiency, but the negative net profit margin is a concern.

Balance Sheet

The balance sheet reveals high leverage with a debt-to-equity ratio of 3.01 TTM, which is a potential risk. The return on equity is negative at -1.46% TTM, indicating inefficiency in generating returns for shareholders. The equity ratio is 19.13% TTM, suggesting a moderate reliance on equity financing. Overall, the balance sheet shows financial stability concerns due to high debt levels.

Cash Flow

Cash flow analysis highlights significant challenges. The free cash flow growth rate is negative at -14.82% TTM, and the operating cash flow to net income ratio is -0.56 TTM, indicating cash flow issues relative to earnings. The free cash flow to net income ratio is 79.09% TTM, which is positive but overshadowed by the overall negative cash flow trends. The company needs to improve its cash flow management.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.90B	1.15B	1.09B	1.39B	1.24B
Gross Profit	626.00M	498.20M	395.80M	302.50M	267.10M
EBITDA	548.70M	669.60M	323.30M	978.20M	1.40B
Net Income	-76.20M	74.80M	-398.10M	907.40M	1.04B
Balance Sheet
Total Assets	26.81B	17.47B	16.81B	15.27B	11.48B
Cash, Cash Equivalents and Short-Term Investments	143.10M	9.50M	5.80M	35.40M	94.00M
Total Debt	15.77B	10.32B	10.12B	8.46B	5.94B
Total Liabilities	18.65B	12.16B	11.71B	10.10B	7.25B
Stockholders Equity	5.06B	5.21B	5.05B	5.15B	4.23B
Cash Flow
Free Cash Flow	704.80M	-1.37B	192.40M	-1.82B	-1.05B
Operating Cash Flow	721.50M	30.70M	203.60M	150.10M	325.30M
Investing Cash Flow	-1.51B	-653.00M	-2.31B	-2.75B	-2.52B
Financing Cash Flow	923.60M	625.90M	2.08B	2.54B	1.78B

K-Fast Holding AB Class B Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.64
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:KFAST.B, the sentiment is Negative. The current price of 12.64 is above the 20-day moving average (MA) of 11.17, above the 50-day MA of 12.05, and below the 200-day MA of 13.69, indicating a bearish trend. The MACD of -0.54 indicates Positive momentum. The RSI at 29.17 is Positive, neither overbought nor oversold. The STOCH value of 9.99 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:KFAST.B.

K-Fast Holding AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFAST	70 Neutral	kr4.26B	11.85	6.08%	1.80%	-2.06%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
EAST	57 Neutral	kr4.45B	9.63	―	2.39%	―	―
GPG	56 Neutral	kr1.78B	7.67	―	1.67%	0.71%	―
BRIN.B	51 Neutral	kr3.40B	37.11	2.27%	―	51.80%	―
KFAST.B	44 Neutral	kr2.21B	-29.12	0.75%	―	58.82%	―

K-Fast Holding AB Class B Corporate Events

K-Fastigheter Boosts Property Portfolio and Liquidity Amid Strategic Transformation

K-Fastigheter reported strong growth in rental income and property management results for 2025, largely driven by the consolidation of Brinova, but the Group posted a full-year loss due to negative valuation effects on interest rate derivatives and property write-downs. Despite fewer construction starts and lower percentage-of-completion revenues weighing on construction profits, the company expanded its investment property portfolio value by 56 percent and maintained stable leverage metrics.

In the fourth quarter, K-Fastigheter executed a major property portfolio divestment of 681 apartments in western Sweden, expected to generate about SEK 592 million in net liquidity through 2027 to fund new construction and strengthen the balance sheet. The company also advanced its development pipeline with new building rights in Björlanda, a legally binding zoning plan in Helsingborg, a sustainable bond listing on Nasdaq Stockholm and continued project completions, underpinning its strategic transformation into a leading Swedish operator in housing project development and construction.

The most recent analyst rating on ($SE:KFAST.B) stock is a Hold with a SEK11.50 price target. To see the full list of analyst forecasts on K-Fast Holding AB Class B stock, see the SE:KFAST.B Stock Forecast page.

K-Fast Holding Launches Management Stock Option Program Backed by Major Shareholders

K-Fast Holding AB has approved participation in an employee stock option incentive program set up by major shareholders Jacob Karlsson AB and Erik Selin Fastigheter AB, targeting selected members of group management and based entirely on existing B-shares to avoid dilution. The program comprises up to 3 million free options, each exercisable into one B-share between the 2027 year-end report and 31 December 2028 (or earlier in the event of a takeover above 90% ownership), at an exercise price initially set at SEK 11 per share excluding the value of the Brinova holding and potentially reduced if performance targets are met; by tying exercise rights to continued employment and company results, K-Fastigheter aims to strengthen management’s alignment with shareholders and support profitability and long-term growth, with a theoretical total program value of about SEK 1.66 million based on Black & Scholes valuation assumptions.

The most recent analyst rating on ($SE:KFAST.B) stock is a Hold with a SEK13.50 price target. To see the full list of analyst forecasts on K-Fast Holding AB Class B stock, see the SE:KFAST.B Stock Forecast page.

K-Fastigheter and ByggVesta Launch Joint Venture for 500 Rental Homes in Stockholm and Malmö

K-Fastigheter and residential developer ByggVesta have entered a strategic joint venture to develop and construct about 500 new rental apartments in one project in Stockholm and one in Malmö, with building permit processes starting immediately and construction targeted to begin in the first quarter of 2027. By combining ByggVesta’s experience in large-scale urban development with K-Fastigheter’s industrialized building systems, the partnership aims to deliver cost-effective, sustainable and high-quality housing in high-demand areas, and the parties are also considering a potential divestment of the projects at an appropriate time, which could influence K-Fastigheter’s capital allocation and positioning in the Swedish residential rental market.

The most recent analyst rating on ($SE:KFAST.B) stock is a Hold with a SEK13.50 price target. To see the full list of analyst forecasts on K-Fast Holding AB Class B stock, see the SE:KFAST.B Stock Forecast page.