Platzer Fastigheter Holding AB (PLAZ.B) AI Stock Analysis

• Market Cap: kr8.91B
• Dividend Yield: 2.91%
• Average Volume (3M): 182.23K
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.37
• Revenue Growth: 8.42%
• EPS Growth: N/A
• Country: SE
• Employees: 84
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): 1.65
• Shares Outstanding: 99,934,290
• 10 Day Avg. Volume: 148,979
• 30 Day Avg. Volume: 182,231
• PEG Ratio: 0.13
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 5.09
• P/FCF Ratio: 0.00
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: kr78.00 ▲(2.63% Upside)

Overall score reflects a workable but uneven financial profile—especially volatile revenue/profits and choppy free cash flow—partly offset by a moderately positive technical setup (trading above key moving averages) and a reasonable valuation (P/E ~12.7 with a ~2.8% dividend yield).

Positive Factors

High property-level margins

Sustained gross and EBIT margins indicate the core leasing business generates strong operating cash flows relative to revenue. For a commercial landlord this reflects effective rent pricing and cost control across assets, supporting resiliency through market cycles and funding for maintenance and selective growth.

Diversified commercial portfolio and leasing revenue

A mix of office, industrial and retail assets in the Gothenburg region spreads tenant and sector risk and creates multiple income streams. Stable lease income is a durable cash source for reinvestment and debt service, while active property management and redevelopment potential support long-term value creation.

Workable equity base despite leverage

Equity resilience alongside sector-normal leverage provides a buffer against cyclical swings and supports access to capital for development. While leveraged, the company’s equity position has not eroded materially, preserving strategic optionality for selective investments and creditor confidence over the medium term.

Negative Factors

Volatile revenue and earnings

Large swings in top-line and net results reduce predictability of cash available for dividends and investments. Such volatility—driven by non-operating items and cyclical exposures—weakens forecasting, raises sensitivity to macro shocks, and complicates long-term capital allocation decisions for management.

Weak and inconsistent free cash flow

Erratic FCF undermines the firm’s ability to reliably service debt, fund distributions, and execute development projects without external financing. Over the medium term, constrained or unstable cash generation increases refinancing and funding risk, limiting financial flexibility in higher-rate or downturn scenarios.

Meaningful leverage raises financial risk

Elevated and persistent debt levels typical for real estate magnify exposure to interest-rate moves and asset-value declines. This constrains the firm's ability to pursue opportunistic investments and increases the probability that adverse market or financing conditions could force asset sales or more expensive refinancing.

Platzer Fastigheter Holding AB Business Overview & Revenue Model

Company Description

Platzer Fastigheter Holding AB (publ) operates as a commercial real estate company in Sweden. It owns, develops, leases, and manages commercial properties, which primarily include offices, industrial/warehouses, logistics and retail facilities. The company's property portfolio comprised 72 properties with a total lettable area of 874,000 square meters. Platzer Fastigheter Holding AB (publ) was founded in 1969 and is based in Gothenburg, Sweden.

How the Company Makes Money

Platzer Fastigheter generates revenue primarily through leasing and rental income from its diverse portfolio of commercial properties. The company leases space to various tenants, including businesses in the office, retail, and industrial sectors, which provides a steady stream of cash flow. Additionally, Platzer may engage in property development and redevelopment projects, where it invests in improving or repurposing properties to increase their market value and rental potential. The company may also benefit from strategic partnerships with local businesses and organizations, which can enhance its market presence and tenant relationships, further contributing to its earnings.

Platzer Fastigheter Holding AB Financial Statement Overview

Summary

Mixed fundamentals: revenue was inconsistent with a sharp decline in 2025 (~-28.5%), profitability has been volatile (large loss in 2023 then recovery in 2024–2025), and leverage remains meaningful. Cash flow is the key weakness, with free cash flow swinging materially and deteriorating to ~zero in 2025, reducing confidence in dividend/debt funding resilience.

Income Statement

Revenue growth has been inconsistent, with a notable decline in 2025 (down ~28.5%) after solid growth in 2023–2024. Profitability is volatile: net margin swung from very strong in 2021–2022 to a large loss in 2023, then recovered to positive profitability in 2024–2025. The consistently high gross and EBIT-level margins suggest strong underlying property income, but the large earnings swings indicate meaningful sensitivity to non-operating items (typical in real estate) and reduce earnings quality/stability.

Balance Sheet

Leverage is meaningful and persistent, with debt running at roughly 0.85–1.26x equity over the period, which is elevated but not unusual for real estate. Equity has generally held up, but returns on equity have been volatile, including a negative year in 2023 and a relatively modest level in 2024–2025 despite the earnings recovery. Overall, the balance sheet looks workable, but the combination of sizeable debt and uneven profitability increases financial risk if property values, rents, or financing conditions move against the company.

Cash Flow

Operating cash generation is positive each year, but it has not consistently supported reported earnings and shareholder returns. Free cash flow is volatile—strongly positive in 2023–2024, negative in 2022, and effectively zero in 2025 (a sharp deterioration versus 2024). Cash flow coverage of net income is also relatively low in multiple years, suggesting earnings are not consistently translating into cash, which is a key weakness for funding dividends, debt reduction, and reinvestment.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.75B	1.67B	1.45B	1.23B	1.20B
Gross Profit	1.38B	1.31B	1.13B	940.00M	923.00M
EBITDA	1.30B	1.25B	1.07B	898.00M	2.32B
Net Income	698.00M	355.00M	-943.00M	3.03B	1.71B
Balance Sheet
Total Assets	31.60B	32.02B	29.77B	29.46B	26.96B
Cash, Cash Equivalents and Short-Term Investments	156.00M	391.00M	167.00M	217.00M	171.00M
Total Debt	14.96B	15.87B	13.98B	11.85B	12.46B
Total Liabilities	18.38B	19.42B	17.29B	15.47B	15.89B
Stockholders Equity	13.22B	12.60B	12.48B	14.00B	11.07B
Cash Flow
Free Cash Flow	0.00	925.00M	604.00M	-626.00M	675.00M
Operating Cash Flow	611.00M	925.00M	604.00M	616.00M	686.00M
Investing Cash Flow	394.00M	-2.33B	-2.49B	1.24B	-2.33B
Financing Cash Flow	-1.24B	1.63B	1.83B	-1.81B	1.67B

Platzer Fastigheter Holding AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 76.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PLAZ.B, the sentiment is Neutral. The current price of 76 is above the 20-day moving average (MA) of 73.45, above the 50-day MA of 72.87, and above the 200-day MA of 72.57, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 49.87 is Neutral, neither overbought nor oversold. The STOCH value of 59.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:PLAZ.B.

Platzer Fastigheter Holding AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFAST	70 Neutral	kr4.19B	11.72	6.08%	1.80%	-2.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
BRIN.B	62 Neutral	kr3.50B	20.04	2.27%	―	51.80%	―
PLAZ.B	60 Neutral	kr8.91B	12.71	5.26%	2.91%	8.42%	―
CORE.A	52 Neutral	kr7.50B	-2.85	-8.81%	2.28%	-6.30%	52.27%
CORE.D	52 Neutral	kr7.50B	-163.45	―	8.13%	-6.30%	52.27%
SBB.B	44 Neutral	kr8.53B	66.67	1.23%	―	-11.38%	―

Platzer Fastigheter Holding AB Corporate Events

Platzer Lifts Earnings and Dividend as Gothenburg Property Portfolio Holds Firm

Platzer reported steady full-year 2025 growth, with rental income up 5% to SEK 1,747 million and income from property management up 11% to SEK 795 million, while the operating surplus also grew 5%. Despite slightly negative net lettings for the year and marginally lower property values, the company strengthened its balance sheet, reducing its loan‑to‑value ratio to 49% and improving interest coverage, and the board proposes raising the dividend to SEK 2.20 per share. Operationally, Platzer continued to secure significant leases, including major office and industrial projects and the acquisition of an industrial property, while also launching a share buyback programme, underlining an active capital allocation strategy and ongoing confidence in the Gothenburg commercial property market.

The most recent analyst rating on ($SE:PLAZ.B) stock is a Hold with a SEK81.00 price target. To see the full list of analyst forecasts on Platzer Fastigheter Holding AB stock, see the SE:PLAZ.B Stock Forecast page.

Platzer Fastigheter Announces Share Repurchase Plan

Platzer Fastigheter Holding AB has announced a decision to repurchase its own Class B shares, utilizing the authorization from the Annual General Meeting. This move aims to adjust the capital structure, enhance shareholder value, and support the company’s incentive program, leveraging its strong cash flow and stable financial position.

The most recent analyst rating on ($SE:PLAZ.B) stock is a Buy with a SEK85.00 price target. To see the full list of analyst forecasts on Platzer Fastigheter Holding AB stock, see the SE:PLAZ.B Stock Forecast page.