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Nyfosa AB (SE:NYF)
:NYF

Nyfosa AB (NYF) AI Stock Analysis

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SE:NYF

Nyfosa AB

(NYF)

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Neutral 47 (OpenAI - 5.2)
Rating:47Neutral
Price Target:
kr67.00
▼(-7.90% Downside)
Action:ReiteratedDate:02/10/26
The score is primarily constrained by balance-sheet risk (high leverage and sharply reduced equity) and weakening recent fundamentals (TTM revenue and free-cash-flow deterioration). Technicals also point to a sustained downtrend (below key moving averages with negative MACD). Valuation is mixed, with a reasonable dividend yield but a relatively high P/E for the current growth and volatility profile.
Positive Factors
High operating margins
Sustained high EBIT and gross margins indicate structural operating efficiency in property management and leasing. Durable margins support cash generation, cover fixed property costs, and provide capacity for reinvestment or distributions even if top-line growth is uneven over the next 2–6 months.
Diversified rental business model
A diversified commercial portfolio and focus on long-term leases produce recurring rental income and reduce single-segment vulnerability. Geographic and sector diversification enhances resilience to localized downturns and supports steady cashflows and tenant relationships over multiple quarters.
Positive operating cash generation
Consistent operating cash flow near historical levels shows the business converts rental revenue into cash, underpinning debt service, maintenance capex and distributions. Even with recent weakness, this structural cash generation provides liquidity buffer over the medium term.
Negative Factors
Elevated leverage / weak equity
High leverage and a materially reduced equity base materially increase refinancing and valuation risk. With less capital cushion, the company is more exposed to property value swings or interest-cost rises, constraining strategic flexibility and heightening balance-sheet vulnerability over months ahead.
Top-line decline and earnings volatility
A steep revenue drop and volatile net income undermine predictability of rental cashflows and make budgeting tougher for maintenance, capex and debt service. Persistent top-line pressure can erode tenant negotiation leverage and compress long-term earnings stability.
Weakening free cash flow quality
Declining FCF and operating cash below reported net income point to weakening cash conversion. Reduced free cash flow limits capacity to reduce leverage, fund development projects, or sustain distributions, increasing financial strain given elevated debt levels.

Nyfosa AB (NYF) vs. iShares MSCI Sweden ETF (EWD)

Nyfosa AB Business Overview & Revenue Model

Company DescriptionNyfosa AB (publ), a transaction-intensive real estate company, acquires, manages, improves, and sells properties in Sweden and Finland. Its property portfolio includes offices, logistics, and warehouse properties, as well as retail properties. As of December 31, 2021, the company had a portfolio of 447 properties with a leasable area of 2,780,000 square meters. Nyfosa AB (publ) was founded in 2009 and is based in Nacka, Sweden.
How the Company Makes MoneyNyfosa generates revenue primarily through rental income from its portfolio of commercial properties. The company leases space to a variety of tenants, including businesses in the office, retail, and logistics sectors, which provides a steady cash flow. Additionally, Nyfosa engages in property sales, capitalizing on value appreciation and strategic disposals to realize gains. The company may also pursue development projects that can enhance property value over time, contributing to revenue through both increased rental income and sales. Partnerships with local real estate firms and investment groups can further bolster its market presence and access to new opportunities, thereby supporting its revenue growth.

Nyfosa AB Financial Statement Overview

Summary
Strong operating profitability (high EBIT and gross margins) is offset by material earnings volatility, a sharp revenue decline in TTM 2025, weakening free-cash-flow momentum, and an elevated-risk balance sheet with high leverage and a notably reduced equity base in TTM 2025.
Income Statement
58
Neutral
Nyfosa shows structurally high operating profitability, with EBIT margins consistently strong (about mid-60% in 2023–2025) and gross margin holding near ~66–70%. However, earnings volatility is material: net income swung from a large loss in 2023 to a small profit in 2024 and improved further in TTM (Trailing-Twelve-Months) 2025, but revenue declined sharply in TTM (Trailing-Twelve-Months) 2025 (-36%), signaling pressure on the top line despite strong operating metrics.
Balance Sheet
41
Neutral
Leverage is meaningfully elevated, with debt-to-equity generally around ~1.2–1.5x in 2020–2024, and returns on equity have been weak/volatile (negative in 2023, low in 2024, modest in TTM (Trailing-Twelve-Months) 2025). A key red flag is the sharp drop in reported equity in TTM (Trailing-Twelve-Months) 2025 (very low versus prior years), which makes the capital structure look significantly riskier and suggests reduced balance-sheet cushioning against asset value or earnings shocks.
Cash Flow
54
Neutral
Cash generation is positive, with operating cash flow steady around ~SEK 1.3–1.6B in recent years and free cash flow generally tracking net income closely (near ~1.0x in 2023–TTM 2025). That said, cash flow quality is mixed: operating cash flow covers less than net income in most years (improved close to 1.0x in 2024 but still below 1.0x in TTM (Trailing-Twelve-Months) 2025), and free cash flow growth turned sharply negative in TTM (Trailing-Twelve-Months) 2025, indicating weakening cash momentum.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.60B3.67B3.56B3.15B2.46B
Gross Profit2.52B2.54B2.44B2.09B1.65B
EBITDA2.31B2.37B2.27B1.95B4.01B
Net Income542.00M114.00M-639.00M1.69B3.11B
Balance Sheet
Total Assets42.40B43.33B43.68B45.34B40.63B
Cash, Cash Equivalents and Short-Term Investments123.00M451.00M435.00M691.00M534.00M
Total Debt39.71B21.91B23.85B24.52B21.27B
Total Liabilities24.71B24.71B26.75B26.92B23.36B
Stockholders Equity104.00M18.58B16.13B18.38B17.24B
Cash Flow
Free Cash Flow0.001.39B1.54B5.00B7.41B
Operating Cash Flow1.35B1.39B1.54B1.64B1.39B
Investing Cash Flow-707.00M-602.00M-284.00M-3.39B-6.05B
Financing Cash Flow-964.00M-779.00M-1.51B1.89B4.88B

Nyfosa AB Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price72.75
Price Trends
50DMA
71.20
Positive
100DMA
74.73
Negative
200DMA
79.75
Negative
Market Momentum
MACD
0.47
Negative
RSI
60.09
Neutral
STOCH
93.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NYF, the sentiment is Neutral. The current price of 72.75 is above the 20-day moving average (MA) of 70.12, above the 50-day MA of 71.20, and below the 200-day MA of 79.75, indicating a neutral trend. The MACD of 0.47 indicates Negative momentum. The RSI at 60.09 is Neutral, neither overbought nor oversold. The STOCH value of 93.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:NYF.

Nyfosa AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
kr16.60B13.0012.28%1.75%14.33%204.60%
67
Neutral
kr29.42B13.259.74%3.60%5.18%349.60%
65
Neutral
$2.17B12.193.79%4.94%3.15%1.96%
64
Neutral
kr12.56B11.888.13%6.92%20.75%
63
Neutral
kr26.46B-75.800.76%2.39%-3.46%
60
Neutral
kr9.54B13.665.26%2.91%8.42%
47
Neutral
kr15.41B28.433.19%1.93%0.03%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:NYF
Nyfosa AB
74.05
-20.90
-22.01%
SE:FABG
Fabege AB
84.10
1.37
1.66%
SE:WIHL
Wihlborgs Fastigheter AB
95.70
-5.93
-5.83%
SE:NP3
NP3 Fastigheter AB
269.50
18.52
7.38%
SE:PLAZ.B
Platzer Fastigheter Holding AB
79.60
-0.06
-0.08%
SE:CIBUS
Cibus Nordic Real Estate AB
153.00
3.08
2.05%

Nyfosa AB Corporate Events

Nyfosa Launches Share Buyback to Optimize Capital Structure and Fund Deals
Feb 10, 2026

Nyfosa AB has initiated a share repurchase program under a mandate from its 2025 Annual General Meeting, aiming to optimize its capital structure and enhance shareholder value. The company plans to buy back shares on Nasdaq Stockholm, with its holding capped at 10% of total shares outstanding and payment to be made in cash.

The repurchased shares may later be used as consideration in acquisitions of properties or property companies, or to finance new real estate investments, underscoring Nyfosa’s continued focus on transaction-driven growth. DNB Carnegie Investment Bank AB has been appointed as financial advisor to the buyback, which could give Nyfosa added strategic flexibility in a competitive Nordic commercial property market.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa Lifts Dividend and Resets Profit Targets After Active 2025
Feb 9, 2026

Nyfosa reported 2025 income of SEK 3.59 billion and profit from property management of SEK 1.46 billion, a 7% increase per share, despite higher non-recurring costs and negative property value changes. The board proposes raising the dividend to SEK 3.00 per share, in line with policy, after an active year of portfolio transactions, bond issues and refinancing that strengthened the balance sheet.

For 2026, Nyfosa forecasts profit from property management of SEK 1.5 billion and has reset its financial targets to focus on average annual growth of 10% in profit from property management per share from 2026–2030. The dividend policy is revised to distribute at least 40% of profit from property management, aligning shareholder returns more closely with earnings, while a new CEO and expanded management team drive efficiency, portfolio simplification and improved profitability.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa Calls Investor Meeting to Present 2025 Results and Outlook
Feb 3, 2026

Nyfosa has invited investors, analysts and media to an investor meeting in Stockholm on 10 February 2026, following the publication of its 2025 year-end report the day before. The event will feature a presentation summarizing the company’s 2025 performance, outlining its current platform, and providing an outlook on strategic priorities and future opportunities, with both limited in-person attendance and a live webcast available and later archived on the company’s website.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa Board Member Marie Bucht Toresäter Resigns with Immediate Effect
Jan 15, 2026

Nyfosa AB has announced that board member Marie Bucht Toresäter has resigned from the company’s board of directors with immediate effect, at her own request and for personal reasons. Following her departure, the board will consist of five members until the Annual General Meeting in May 2026 in Stockholm, a change that slightly reshapes the governance structure but maintains a functioning board composition for the continued execution of Nyfosa’s opportunistic real estate strategy in the Swedish and Finnish commercial property markets.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa Refinances SEK 4.2 Billion, Extends Debt Maturities and Bolsters Liquidity
Dec 22, 2025

Nyfosa has secured new credit facilities totaling SEK 4.7 billion with three Nordic banks to refinance SEK 4.2 billion of existing secured loans, equivalent to 20% of the group’s interest‑bearing liabilities as of late September 2025. The transaction extends the company’s average loan maturity by 0.6 years, pushes final maturities out to 2028–2031, lowers interest costs, and generates SEK 0.5 billion in additional liquidity earmarked for long‑term financing of previously announced redemptions of hybrid and senior unsecured bonds, thereby strengthening the group’s liquidity position despite a one‑off Q4 cost of about SEK 16 million. Over the course of 2025, Nyfosa has refinanced a total of SEK 7.3 billion, corresponding to 34% of its starting interest‑bearing debt, a proactive reshaping of its debt portfolio that management argues reduces financial risk and improves the platform for profitable growth in a financing market they describe as supportive.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa Rotates Property Portfolio With Nordic Deals Worth Over MSEK 500
Dec 18, 2025

Nyfosa has continued its active portfolio rotation in the fourth quarter by acquiring five properties for MSEK 240 and divesting four properties for MSEK 275, reshaping its Nordic commercial portfolio while slightly reducing total leasable area. The acquired assets, with high occupancy of 95% and longer average lease terms of 5.9 years, are expected to strengthen net operating income, while the divested properties, which had lower occupancy and shorter leases, delivered a sale price exceeding book value by MSEK 13, generating a corresponding gain in fourth-quarter 2025 earnings and lowering future investment needs and operational complexity.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

Nyfosa AB Expands Share Capital Through Incentive Program
Nov 28, 2025

Nyfosa AB has increased its number of shares and votes following the exercise of warrants under its LTIP 2022 incentive program, resulting in a total of 208,106,276 shares and votes as of November 2025. This development reflects Nyfosa’s ongoing strategic initiatives to enhance shareholder value and strengthen its market position in the property sector.

The most recent analyst rating on (SE:NYF) stock is a Hold with a SEK80.00 price target. To see the full list of analyst forecasts on Nyfosa AB stock, see the SE:NYF Stock Forecast page.

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.Date of analysis: Feb 10, 2026