Stendörren Fastigheter stock: fair value
STEF-B.STThe fair value of Stendörren Fastigheter under our model is $25.36, the price is 34% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $21.13 and expensive above $31.69 (uncertainty low, based on the price swings of the past year).
Calculated with a cost of equity of 7.4%. At 8.4% the fair value would be $21.20, at 6.4% it would be $31.50.
Where the number comes from
From the cash-flow model alone; the profit includes one-off items, so there is no industry value.
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.2%. Discounted at 7.4% (government bond yield 2.2% plus beta 1.22 times a risk premium of 4.2%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $25.36 per share: free cash flow for the next ten years, each year discounted to today at 7.4%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 7.4%) |
|---|---|---|---|---|
| 2026 | $39.21M | extrapolated at 6.8% | 0.9315 | $36.52M |
| 2027 | $41.34M | extrapolated at 5.4% | 0.8677 | $35.87M |
| 2028 | $43.18M | extrapolated at 4.5% | 0.8083 | $34.9M |
| 2029 | $44.81M | extrapolated at 3.8% | 0.7529 | $33.74M |
| 2030 | $46.29M | extrapolated at 3.3% | 0.7013 | $32.47M |
| 2031 | $47.66M | extrapolated at 3.0% | 0.6533 | $31.14M |
| 2032 | $48.96M | extrapolated at 2.7% | 0.6085 | $29.8M |
| 2033 | $50.22M | extrapolated at 2.6% | 0.5669 | $28.47M |
| 2034 | $51.45M | extrapolated at 2.5% | 0.5280 | $27.17M |
| 2035 | $52.67M | extrapolated at 2.4% | 0.4919 | $25.9M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $315.97M |
| Terminal value: cash flow 2035 × (1 + 2.2%) / (7.4% − 2.2%) | $1.04B |
| Present value of terminal value (× 0.4919) | $511.63M |
| Equity value (sum plus present value of terminal value) | $827.61M |
| Shares (diluted) | 32.64M |
| Value per share (equity value divided by shares) | $25.36 |
| Fair value (from the cash flow model alone) | $25.36 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = SEK 9.9729)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 21 Oct 2026)
- Valuation signal Undervalued since 7 Nov 2026, previously Fairly valued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.