Prisma Properties AB (PRISMA) AI Stock Analysis

• Market Cap: kr4.02B
• Dividend Yield: N/A
• Average Volume (3M): 129.49K
• Price to Earnings (P/E): 12.0
• Beta (1Y): 0.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: SE
• Employees: 19
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 0.41
• Shares Outstanding: 164,521,550
• 10 Day Avg. Volume: 130,257
• 30 Day Avg. Volume: 129,491
• PEG Ratio: 0.02
• Price to Book (P/B): 0.86
• Price to Sales (P/S): 7.78
• P/FCF Ratio: -9.04
• 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): 1.84
• Revenue Forecast (FY): kr681.62M

• Rating: 53 Neutral
• Price Target: kr25.00 ▼(-0.20% Downside)
• Action: Reiterated Date: 03/01/26
• Date: Action: Reiterated 03/01/26

The score is held back mainly by weak TTM cash generation (negative operating and free cash flow despite profits) and a bearish technical backdrop (below key moving averages with negative MACD). These are partially offset by a strong recent earnings rebound and a moderate P/E valuation, but higher leverage and earnings volatility limit confidence.

Positive Factors

Tenant mix & recurring rents

A portfolio concentrated on discount grocery and low-price retail supports durable, necessity-driven demand and typically produces long-term lease relationships and stable base rent. This business model reduces vacancy risk versus discretionary retail and underpins predictable recurring revenue over multiple-year horizons.

Meaningful revenue and earnings recovery

Sustained top-line growth and a material net income rebound indicate improving operating performance and market demand for Prisma's assets. Over the medium term, stronger earnings expand internal capacity to fund development, reinvest in properties, and service debt, supporting durable business momentum if trends persist.

Asset-backed balance sheet

A large asset base with substantial equity provides collateral and a structural support for borrowing and refinancing. The tangible asset backing and improved ROE (~7.4% TTM) give the company levers for secured financing and operational stability, important for a development-focused real estate firm over the medium term.

Negative Factors

Negative cash generation

Negative operating and free cash flow despite reported net income signals weak cash conversion, likely from project capex, working-capital timing, or development outflows. Over 2–6 months this can constrain discretionary spending, debt servicing capacity, and limit ability to self-fund growth without external financing.

Rising leverage

An increase in debt-to-equity raises financial rigidity and interest burden, heightening sensitivity to interest rates and property valuation shifts. For a developer/operator, higher leverage reduces flexibility to absorb project delays or valuation swings and increases refinancing risk over the medium term.

Earnings and margin volatility

Pronounced year-to-year profit swings reflect development timing, valuation changes and cyclical asset revaluations. This volatility undermines predictability of cash flows and planning, complicates capital allocation and lender/investor confidence, and can raise the cost of capital or restrict access during downturns.

Prisma Properties AB Business Overview & Revenue Model

Company Description

Prisma Properties AB (publ) owns, develops, and leases properties in Sweden, Denmark, and Norway. It owns and develops properties within the discount retail, grocery, and fast-food sectors. The company was founded in 2016 and is based in Stockholm, Sweden.

How the Company Makes Money

Prisma Properties AB generates revenue primarily through rental income from its diverse real estate portfolio. The company leases its residential and commercial properties to tenants, providing a consistent cash flow. Additionally, PRISMA engages in property development projects, generating profits from the sale of newly constructed or renovated properties. The company may also collaborate with local governments and private investors on mixed-use developments, further enhancing its revenue streams. Key partnerships with construction firms and local businesses enable PRISMA to optimize its operational efficiency and expand its market reach, contributing positively to its overall earnings.

Prisma Properties AB Financial Statement Overview

Summary

Income statement is strong with meaningful revenue growth and a large TTM earnings rebound, but durability is questioned by sharp year-to-year margin swings. Balance sheet is asset-backed yet leverage has risen (debt-to-equity ~0.95), increasing risk. The biggest drag is cash flow: TTM operating cash flow (-464M) and free cash flow (-49M) are negative despite positive net income, indicating weak cash conversion and near-term funding pressure.

Income Statement

Revenue has grown meaningfully over the period, with TTM (Trailing-Twelve-Months) up versus 2024. Profitability is also strong in TTM (net income of 350M on 539M revenue), showing a major rebound from the weak 2023 result (net loss). However, margins swing sharply year-to-year (including unusually high profit levels in 2021–2022 and a loss in 2023), which points to earnings volatility and lower predictability for a development-focused real estate business.

Balance Sheet

The balance sheet is asset-backed with equity of 4.86B against 10.24B in assets in TTM (Trailing-Twelve-Months). Leverage is meaningful: debt is 4.63B and debt-to-equity is ~0.95 in TTM, rising from 2024 (~0.71), indicating increased reliance on borrowing. Returns on equity improved to ~7.4% in TTM from a very low level in 2024, but the higher leverage and cyclical nature of property development increase risk if valuations or financing conditions weaken.

Cash Flow

Cash generation deteriorated in TTM (Trailing-Twelve-Months): operating cash flow turned negative (-464M) and free cash flow is also negative (-49M), a sharp reversal from positive operating and free cash flow in 2024. In TTM, cash flow does not support reported profits (free cash flow is negative while net income is positive), suggesting working-capital/investment timing pressure or project-related cash outflows. While cash flow can be lumpy in real estate development, the magnitude of the TTM outflow is a clear near-term weakness.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	539.00M	435.00M	390.00M	206.90M	70.90M
Gross Profit	417.00M	344.00M	323.00M	169.90M	65.00M
EBITDA	624.00M	235.00M	256.00M	414.00M	176.00M
Net Income	350.00M	36.00M	-133.00M	257.50M	130.30M
Balance Sheet
Total Assets	10.24B	8.38B	6.48B	6.12B	1.70B
Cash, Cash Equivalents and Short-Term Investments	162.00M	780.00M	41.00M	167.80M	26.90M
Total Debt	4.63B	3.23B	2.91B	2.59B	692.30M
Total Liabilities	5.37B	3.81B	3.42B	3.26B	925.20M
Stockholders Equity	4.86B	4.58B	3.05B	2.85B	776.70M
Cash Flow
Free Cash Flow	-464.00M	68.00M	-67.00M	135.70M	157.40M
Operating Cash Flow	-464.00M	72.00M	-64.00M	135.70M	157.40M
Investing Cash Flow	-1.62B	-854.00M	-678.00M	-1.13B	-625.60M
Financing Cash Flow	1.47B	1.52B	614.00M	1.13B	483.30M

Prisma Properties AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:PRISMA, the sentiment is Negative. The current price of 25.05 is above the 20-day moving average (MA) of 24.49, above the 50-day MA of 24.91, and above the 200-day MA of 24.95, indicating a bearish trend. The MACD of -0.09 indicates Negative momentum. The RSI at 47.48 is Neutral, neither overbought nor oversold. The STOCH value of 47.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:PRISMA.

Prisma Properties AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFAST	70 Neutral	kr4.17B	11.02	6.08%	1.80%	-2.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
JOMA	58 Neutral	kr4.53B	13.81	―	―	6.45%	―
EAST	57 Neutral	kr4.31B	10.84	―	2.39%	―	―
TRIAN.B	55 Neutral	kr3.45B	12.17	7.48%	―	2.86%	―
PRISMA	53 Neutral	kr4.02B	11.99	―	―	―	―
BRIN.B	51 Neutral	kr3.05B	-38.63	1.13%	―	51.80%	―

Prisma Properties AB Corporate Events

Prisma Properties boosts earnings and portfolio value as it doubles down on Nordic discount retail

Prisma Properties AB, listed on Nasdaq Stockholm Mid Cap under the ticker PRISMA, has built a portfolio of Nordic retail parks anchored by grocery and discount chains and quick service restaurants. The company targets non-cyclical, value-focused retail segments in busy, easily accessible locations and benefits from long weighted average lease terms, high occupancy and tenants that assume a large share of operating costs.

In 2025 Prisma delivered strong growth, with full-year rental income up 25.1% to SEK 492 million and profit from property management rising 71.6% to SEK 221 million. Net profit jumped to SEK 350 million, supported by a 3.2% uplift in property values and net lettings of SEK 65 million, while the portfolio value increased 32.4% to SEK 9.6 billion.

The group accelerated its expansion by completing and agreeing acquisitions worth SEK 1.82 billion, mainly in Finland and Sweden, and signing further forward funding and forward purchase deals stretching into 2027. It also made selective divestments of SEK 184 million, suggesting active portfolio optimization as it deepens exposure to its core Nordic discount and grocery locations.

To support growth, Prisma raised its long-term net loan-to-value target from 50% to 55% and refinanced SEK 2.3 billion of bank debt, cutting annual financing costs by SEK 15 million. The company issued senior unsecured green bonds totaling SEK 500 million in Q4 and an additional SEK 250 million in January 2026 under a SEK 750 million framework, extending maturities and diversifying funding.

Despite higher leverage, key credit metrics remained solid, with an interest coverage ratio of 2.4 times and a high occupancy rate of 98.6%. The Board proposes no dividend for 2025, signaling a clear preference to reinvest cash flows into what it describes as extensive investment opportunities in the resilient discount and grocery segment, a stance likely to be welcomed by growth-focused shareholders but less so by income investors.

Operationally, Prisma continued to strengthen its organisation, appointing Tom Hagen as Deputy CEO to support the enlarged platform. The combination of rapid portfolio expansion, disciplined financing, and exposure to non-cyclical tenants positions the company as an increasingly important player in the Nordic retail property segment, though the higher loan-to-value target underscores a more leveraged growth strategy.

The most recent analyst rating on (SE:PRISMA) stock is a Hold with a SEK27.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties Sets Date for 2025 Year-End Report and Investor Presentation

Prisma Properties will publish its year-end 2025 report on 17 February 2026 at 7:00 a.m. CET, with the full material and presentation slides made available on the company’s investor relations website later that morning. Management will host an English-language webcast and teleconference at 10:00 a.m. CET the same day, including a Q&A session, giving investors and analysts an opportunity to scrutinize the results and engage directly with the CEO and CFO.

The company will also provide a recorded version of the webcast for on-demand viewing, aiming to broaden access for stakeholders unable to join live. By organizing a detailed presentation with interactive elements, Prisma Properties underlines its commitment to transparent financial communication, which may help support investor confidence and market understanding of its strategic progress in the Nordic retail property segment.

The most recent analyst rating on (SE:PRISMA) stock is a Hold with a SEK27.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties Completes Full SEK 750m Green Bond Framework

Prisma Properties AB has completed a SEK 250 million issue of subsequent senior unsecured green bonds under its SEK 750 million framework, bringing total issuance to the framework’s full amount and carrying a floating rate of three-month Stibor plus 242 basis points. The company plans to list these green bonds on Nasdaq Stockholm’s sustainable bond list, reinforcing its funding base for sustainable retail and infrastructure projects and potentially strengthening its position in the Nordic property and green finance markets.

The most recent analyst rating on (SE:PRISMA) stock is a Hold with a SEK27.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties Explores Additional SEK 250m Green Bond Issue

Prisma Properties AB is exploring the issuance of up to SEK 250 million in additional senior unsecured green bonds under its existing SEK 750 million framework, adding to an outstanding SEK 500 million bond loan. The company has appointed Nordea Bank Abp and SB1 Markets as joint bookrunners to meet bond investors from 13 January 2026, with any capital markets transaction contingent on market conditions, and intends to allocate proceeds in line with its green bond framework, supporting its sustainability-focused expansion of Nordic retail properties and associated EV charging infrastructure.

The most recent analyst rating on (SE:PRISMA) stock is a Buy with a SEK28.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties and Lidl Partner on Major Retail Development in Simrishamn

Prisma Properties has announced a 10-year lease agreement with Lidl to establish a modern grocery store on the Hammaren 1 property in Simrishamn, strategically positioned near national highway 9. The project is expected to enhance accessibility for residents by incorporating electric vehicle fast chargers and additional motorhome parking as a nod to Simrishamn’s reputation as a vacation destination. Scheduled for completion by Q2 2027, this project marks Prisma’s growing presence in southern Sweden, with significant implications for regional affordability and retail development.

The most recent analyst rating on (SE:PRISMA) stock is a Buy with a SEK28.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties Confirms Lease Continuity Amid NRG Pizza AB’s Reconstruction

Prisma Properties has announced that NRG Pizza AB, which operates Pizza Hut in Sweden and is currently undergoing company reconstruction, intends to honor all existing lease agreements with Prisma Properties. These agreements, covering eight restaurant locations, account for about two percent of Prisma Properties’ total rental value, and the company has expressed confidence in the continuation of these leases under their current terms.

The most recent analyst rating on (SE:PRISMA) stock is a Buy with a SEK28.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.

Prisma Properties Appoints Tom Hagen as Deputy CEO

Prisma Properties has appointed Tom Hagen as Deputy CEO to strengthen its management function in line with the company’s continued growth. Previously serving as Head of Transactions, Hagen will retain his responsibilities in this area while taking on broader duties to support the company’s strategic objectives. This appointment is part of Prisma’s efforts to bolster its management structure and facilitate ongoing expansion in the Nordic retail property market.

The most recent analyst rating on (SE:PRISMA) stock is a Buy with a SEK28.00 price target. To see the full list of analyst forecasts on Prisma Properties AB stock, see the SE:PRISMA Stock Forecast page.