Fastighets AB Balder (publ) (BALD-B.ST) stock analysis

In our weekly check, Fastighets AB Balder (publ) is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 11 pass, warnings: 7, red flags: 6.

About Fastighets AB Balder (publ)

Fastighets AB Balder (publ) is a Real Estate company (Real Estate - Diversified) based in Sweden, listed on STO as BALD-B.ST.

What our checks show for BALD-B.ST

Red flags

• Net debt is 8.9x a year of EBITDA (debt/equity 1.67). That limits room in a downturn and raises refinancing risk.
• The net margin fell by 162 points over 5 years, to 44.4%: the company keeps less of each sale as profit.
• Analysts expect the net margin to shrink by 11.7 points from today's 44.4%.
• The stock has fallen as much as 72% from a peak. Would you have held through that?
• Beta 1.78: the stock usually moves more than the market, both up and down.
• Return on capital (ROCE) is only 3.3%.

Warning signs

• Operating profit covers interest only 2.1 times: a weak year could make the payments hard.
• Operating cash flow is only 0.74x net profit: part of the reported profit does not arrive as cash.
• Analysts expect earnings per share to shrink about 8.7% a year.
• Analysts expect only about 3.9% a year of growth in revenue.
• Earnings per share fell 14.7% a year over the last 3 years.
• Net profit fell 14.9% a year over the last 3 years.
• Recovering from its deepest fall took about 1.7 years.

Strengths

• The gross margin is 80.1% and has risen by 4.8 points: pricing power is holding.
• The company keeps 44.4% of its revenue as net profit.
• Free cash flow is 32.2% of revenue: cash for dividends, buybacks or growth.
• The price is 8.5 times earnings (P/E), reasonable for its growth.
• Actively traded: about 2.9 million shares a day.
• Pay in shares is only 0% of free cash flow.

Similar companies

CAST.ST · SAGA-B.ST · EMAARDEV.AE · 0083.HK · 0960.HK · EMAAR.AE

Questions

What grade does Fastighets AB Balder (publ) (BALD-B.ST) have?

In our weekly check, Fastighets AB Balder (publ) is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 11 pass, warnings: 7, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of BALD-B.ST stock?

This week's biggest flags for Fastighets AB Balder (publ): High debt, Margins falling, Margins expected to shrink. In total 13 of 24 checks show a warning or a red flag.

What does Fastighets AB Balder (publ) do?

Fastighets AB Balder (publ) is a Real Estate company (Real Estate - Diversified) based in Sweden, listed on STO as BALD-B.ST.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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