Castellum AB (publ)

OM:CAST Stock Report

Market Cap: SEK 57.7b

Castellum Valuation

Is CAST undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of CAST when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: CAST (SEK122.95) is trading above our estimate of future cash flow value (SEK51.46)

Significantly Below Future Cash Flow Value: CAST is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CAST?

Key metric: As CAST is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CAST. This is calculated by dividing CAST's market cap by their current earnings.
What is CAST's PE Ratio?
PE Ratio25.6x
EarningsSEK 2.24b
Market CapSEK 57.74b

Price to Earnings Ratio vs Peers

How does CAST's PE Ratio compare to its peers?

The above table shows the PE ratio for CAST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11x
BALD B Fastighets AB Balder
8.6x-7.01%SEK 60.3b
SAGA A AB Sagax
16.4x-1.62%SEK 58.9b
PNDX B Pandox
9.1x-10.69%SEK 33.4b
WALL B Wallenstam
10.1x-18.29%SEK 24.7b
CAST Castellum
25.6x19.96%SEK 57.7b

Price-To-Earnings vs Peers: CAST is expensive based on its Price-To-Earnings Ratio (25.6x) compared to the peer average (11x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does CAST's PE Ratio compare vs other companies in the SE Real Estate Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HEIM PREF Heimstaden
1.3xn/aUS$445.49m
TORSAB Torslanda Property Investment
1.8xn/aUS$95.65m
HALMEN Halmslätten Fastighets
1.2xn/aUS$35.58m
K2A B K2A Knaust & Andersson Fastigheter
2x-85.95%US$38.66m
CAST 25.6xIndustry Avg. 12.0xNo. of Companies10PE0816243240+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CAST is expensive based on its Price-To-Earnings Ratio (25.6x) compared to the Swedish Real Estate industry average (12x).

Price to Earnings Ratio vs Fair Ratio

What is CAST's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CAST PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.6x
Fair PE Ratio28.8x

Price-To-Earnings vs Fair Ratio: CAST is good value based on its Price-To-Earnings Ratio (25.6x) compared to the estimated Fair Price-To-Earnings Ratio (28.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CAST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 122.95
SEK 128.00
+4.11%
12.16%SEK 150.00SEK 105.00n/a12
May ’27SEK 117.80
SEK 127.75
+8.45%
11.97%SEK 150.00SEK 105.00n/a12
Apr ’27SEK 112.50
SEK 123.36
+9.66%
12.51%SEK 150.00SEK 105.00n/a11
Mar ’27SEK 120.15
SEK 123.64
+2.90%
12.29%SEK 150.00SEK 105.00n/a11
Feb ’27SEK 110.10
SEK 120.64
+9.57%
13.42%SEK 150.00SEK 90.00n/a11
Jan ’27SEK 106.40
SEK 116.10
+9.12%
11.11%SEK 150.00SEK 100.00n/a10
Dec ’26SEK 105.75
SEK 115.40
+9.13%
11.65%SEK 150.00SEK 100.00n/a10
Nov ’26SEK 107.85
SEK 115.40
+7.00%
11.65%SEK 150.00SEK 100.00n/a10
Oct ’26SEK 106.45
SEK 116.11
+9.08%
12.57%SEK 150.00SEK 98.00n/a9
Sep ’26SEK 107.45
SEK 116.78
+8.68%
11.88%SEK 150.00SEK 100.00n/a9
Aug ’26SEK 111.85
SEK 115.67
+3.41%
12.08%SEK 150.00SEK 100.00n/a9
Jul ’26SEK 125.10
SEK 114.89
-8.16%
13.00%SEK 150.00SEK 98.00n/a9
Jun ’26SEK 119.00
SEK 116.50
-2.10%
12.89%SEK 150.00SEK 98.00SEK 123.1010
May ’26SEK 117.05
SEK 118.73
+1.43%
12.36%SEK 150.00SEK 95.00SEK 117.8011
Apr ’26SEK 111.10
SEK 121.00
+8.91%
12.09%SEK 150.00SEK 95.00SEK 112.5010
Mar ’26SEK 119.95
SEK 121.60
+1.38%
11.22%SEK 150.00SEK 101.00SEK 120.1510
Feb ’26SEK 120.50
SEK 125.18
+3.89%
13.42%SEK 150.00SEK 102.00SEK 110.1011
Jan ’26SEK 120.55
SEK 127.91
+6.10%
13.15%SEK 150.00SEK 102.00SEK 106.4011
Dec ’25SEK 129.00
SEK 129.18
+0.14%
12.11%SEK 150.00SEK 106.00SEK 105.7511
Nov ’25SEK 131.15
SEK 130.18
-0.74%
11.09%SEK 150.00SEK 110.00SEK 107.8511
Oct ’25SEK 150.15
SEK 130.00
-13.42%
11.93%SEK 155.00SEK 110.00SEK 106.4511
Sep ’25SEK 140.45
SEK 128.22
-8.71%
15.42%SEK 155.00SEK 90.00SEK 107.459
Aug ’25SEK 134.40
SEK 127.11
-5.42%
14.53%SEK 150.00SEK 90.00SEK 111.859
Jul ’25SEK 129.80
SEK 124.00
-4.47%
13.73%SEK 145.00SEK 90.00SEK 125.1010
Jun ’25SEK 130.55
SEK 123.70
-5.25%
15.48%SEK 150.00SEK 90.00SEK 119.0010
SEK 128
Fair Value
3.9% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/03 17:38
End of Day Share Price 2026/06/03 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Castellum AB (publ) is covered by 20 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Paul MayBarclays
Bernd StahliBofA Global Research