NP3 Fastigheter AB (SE:NP3)
:NP3
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NP3 Fastigheter AB
(NP3)
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Rating:69Neutral
Price Target:
kr321.00
â–²(25.39% Upside)
Action:Reiterated
Date:04/25/26
The score is driven primarily by solid financial profitability and an improving (but still leveraged) balance sheet, offset by weak and volatile free-cash-flow conversion. Technicals add support with the stock trading above all major moving averages and positive momentum. Valuation is favorable with a low P/E and a moderate dividend yield.
Positive Factors
High profitability and margins
Sustained high gross and net margins indicate strong operating leverage in NP3's property portfolio and pricing power on rents. Durable margins support internal capital for maintenance and targeted development, improving ability to fund growth and absorb cyclical rent fluctuations over months.
Negative Factors
Elevated leverage
Meaningful indebtedness leaves NP3 sensitive to interest-rate moves and refinancing conditions. Even with improvement from prior years, leverage constrains financial flexibility, raises debt service risk if cash flows weaken, and limits capacity for opportunistic acquisitions or resilience in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and margins
Sustained high gross and net margins indicate strong operating leverage in NP3's property portfolio and pricing power on rents. Durable margins support internal capital for maintenance and targeted development, improving ability to fund growth and absorb cyclical rent fluctuations over months.
Read all positive factors
NP3 Fastigheter AB (NP3) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr16.90B
Dividend Yield1.75%
Average Volume (3M)60.44K
Price to Earnings (P/E)12.3
Beta (1Y)0.67
Revenue Growth13.60%
EPS Growth43.76%
CountrySE
Employees71
SectorGeneral
Sector StrengthN/A
IndustryREIT - Diversified
Share Statistics
EPS (TTM)21.07
Shares Outstanding61,580,795
10 Day Avg. Volume74,310
30 Day Avg. Volume60,438
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.49
Price to Sales (P/S)7.01
P/FCF Ratio15.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr309.00Price Target Upside20.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)16.13
Revenue Forecast (FY)kr2.50B
NP3 Fastigheter AB Business Overview & Revenue Model
Company Description
NP3 Fastigheter AB (publ) functions as a property company, specializing in the provision of commercial real estate for lease. Its diverse portfolio encompasses a wide array of asset types, including commercial, industrial, logistics, and office bu...
How the Company Makes Money
NP3 primarily makes money by generating rental income from its commercial property portfolio. The core revenue stream is contractual lease payments from tenants occupying its premises (typically within segments such as industrial, logistics, retai...
NP3 Fastigheter AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.33B | 2.27B | 1.99B | 1.80B | 1.55B | 1.24B |
| Gross Profit | 1.76B | 1.73B | 1.51B | 1.35B | 1.15B | 913.00M |
| EBITDA | 1.89B | 2.20B | 1.43B | 707.00M | 1.56B | 859.00M |
| Net Income | 1.38B | 1.27B | 914.00M | -62.00M | 1.22B | 2.02B |
Balance Sheet | ||||||
| Total Assets | 28.35B | 27.54B | 24.60B | 21.89B | 21.85B | 18.72B |
| Cash, Cash Equivalents and Short-Term Investments | 426.00M | 433.00M | 245.00M | 696.00M | 213.00M | 272.00M |
| Total Debt | 14.66B | 14.23B | 12.73B | 12.09B | 12.35B | 10.47B |
| Total Liabilities | 17.22B | 16.83B | 15.04B | 14.04B | 14.19B | 11.97B |
| Stockholders Equity | 11.08B | 10.67B | 9.44B | 7.82B | 7.62B | 6.70B |
Cash Flow | ||||||
| Free Cash Flow | 722.00M | 1.03B | 864.00M | 563.00M | 723.00M | 571.00M |
| Operating Cash Flow | 1.06B | 1.03B | 864.00M | 563.00M | 723.00M | 571.00M |
| Investing Cash Flow | -2.36B | -2.21B | -2.50B | -632.00M | -2.35B | -3.24B |
| Financing Cash Flow | 1.41B | 1.38B | 1.55B | 48.00M | 1.56B | 2.83B |
NP3 Fastigheter AB Technical Analysis
Positive
256.00
Price Trends
266.16
Positive
260.70
Positive
256.26
Positive
Market Momentum
1.10
Positive
54.16
Neutral
48.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NP3, the sentiment is Positive. The current price of 256 is below the 20-day moving average (MA) of 274.92, below the 50-day MA of 266.16, and below the 200-day MA of 256.26, indicating a neutral trend. The MACD of 1.10 indicates Positive momentum. The RSI at 54.16 is Neutral, neither overbought nor oversold. The STOCH value of 48.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:NP3.
NP3 Fastigheter AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | kr16.90B | 12.27 | 12.28% | 1.75% | 13.60% | 43.76% | |
66 Neutral | kr12.30B | 13.21 | 9.48% | 6.92% | 22.31% | 147.25% | |
65 Neutral | kr8.21B | 10.43 | 5.43% | 2.91% | 1.52% | 153.52% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | kr23.96B | -328.15 | -0.92% | 2.39% | 12.22% | -121.80% | |
44 Neutral | kr5.40B | -1.05 | -8.81% | 2.28% | -7.75% | -198.50% |
* General Sector Average
SE:NP3
NP3 Fastigheter AB
274.50
24.75
9.91%
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149.80
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3.60
-1.38
-27.77%
NP3 Fastigheter AB Corporate Events
NP3 Fastigheter boosts capital through new preference share issue
May 29, 2026
NP3 Fastigheter AB has expanded its share capital through a directed issue of preference shares, increasing the total number of shares by 12,750,000 to 131,580,794 and lifting total votes to 68,580,794. The move raises the company’s share ca...
NP3 Fastigheter Raises SEK 500m in Green Notes and Moves to Redeem 2026 Bonds
May 27, 2026
NP3 Fastigheter has issued SEK 500 million of new senior unsecured green notes under its MTN programme, with a three-year tenor to June 2029 and a floating rate of three-month Stibor plus 200 basis points. The company plans to list the notes on Na...
NP3 Fastigheter Launches Green Bond Plan and Redeems Outstanding Notes
May 25, 2026
NP3 Fastigheter plans to tap the capital markets with a new three-year green senior unsecured SEK bond of at least SEK 300 million under its MTN programme, subject to market conditions, with SB1 Markets and Danske Bank acting as joint bookrunners....
NP3 Fastigheter Raises SEK 383 Million in Upsized Preference Share Issue to Fund Ongoing Expansion
May 19, 2026
NP3 Fastigheter has completed a directed issue of 12.75 million preference shares at SEK 30 each, raising SEK 383 million after upsizing the transaction due to strong demand from Swedish and international institutional investors and over 3,500 new...
NP3 Plans Directed Preference Share Issue to Fund Continued Expansion
May 19, 2026
NP3 Fastigheter AB is a cash flow-focused commercial real estate owner concentrating on high-yield properties in northern Sweden, recently expanding its footprint into Middle Sweden through acquisitions. The company has combined rapid portfolio gr...
NP3 Fastigheter AGM Backs Dividend, Incentive Plan and Share Issue Mandate
May 6, 2026
NP3 Fastigheter’s annual general meeting in Sundsvall approved dividends of SEK 6.40 per common share and SEK 2.00 per preference share, to be paid in instalments across 2026 and early 2027. Shareholders also re-elected most of the board, ad...
NP3 Fastigheter Plans Smooth CFO Transition as Growth Veteran Steps Down
May 4, 2026
NP3 Fastigheter AB announced a planned transition in its finance leadership, with long-serving CFO Håkan Wallin stepping down after overseeing a period in which the company more than tripled in size amid volatile market conditions. Wallin, wh...
NP3 Fastigheter Updates Green Finance Framework to Boost Sustainable Funding
Apr 28, 2026
NP3 Fastigheter has updated its Green Finance Framework to allow the issuance of green bonds and the raising of green loans as part of its sustainable financing strategy. The company aims to support a transition toward a more climate-neutral prope...
NP3 Fastigheter Lifts 2026 Outlook on Strong Q1 and Major Property Acquisitions
Apr 24, 2026
NP3 Fastigheter AB reported a strong first quarter of 2026, underpinned by active portfolio management and solid rental growth. Rental income rose 10% to MSEK 606, net operating income increased 10% to MSEK 422, and profit from property management...
NP3 Fastigheter Buys SEK 1.2 Billion Industrial Property Portfolio to Expand in Middle Sweden
Apr 15, 2026
NP3 Fastigheter has expanded its footprint in Sweden through the SEK 1.228 billion acquisition of 23 mainly industrial properties, adding 141,000 square meters of lettable area and 102 million in annual rental value. The assets, located in Lidk...
NP3 Fastigheter Calls 2026 AGM With Postal Voting and Governance Decisions on Agenda
Apr 1, 2026
NP3 Fastigheter AB has convened its Annual General Meeting for 6 May 2026 at the company’s head office in Sundsvall, setting out formal procedures for shareholders to participate. The notice details requirements for registration, proxy repre...
NP3 Fastigheter Boosts Capital and Votes Through Directed Preference Share Issue
Mar 31, 2026
NP3 Fastigheter AB has increased its share capital and voting rights following a directed issue of preference shares authorised by its 2025 annual general meeting. The total number of shares rose by 1,250,000 to 118,830,794, comprising 61,580,794 ...
NP3 reshapes regional property portfolio with targeted acquisitions and a divestment
Mar 27, 2026
NP3 Fastigheter AB has adjusted its property portfolio through a series of smaller transactions across regional Sweden, acquiring six properties in Örnsköldsvik, Karlstad, Eskilstuna, and Gävle with a combined lettable area of aroun...
NP3 Fastigheter Issues New Preference Shares to Fund Share Acquisition
Mar 16, 2026
NP3 Fastigheter AB has resolved to carry out a directed issue of 1,250,000 preference shares to two creditors as part of a share acquisition, with payment made through set-off of claims at a subscription price of SEK 31 per share. Following the is...
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.