Castellum AB (publ)

OM:CAST Stock Report

Market Cap: SEK 52.0b

Castellum Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair 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.

SEK 11.6
Fair Value
810.3% overvalued intrinsic discount
10
Number of Analysts

Below Fair Value: CAST (SEK105.6) is trading above our estimate of fair value (SEK11.6)

Significantly Below Fair Value: CAST is trading above our estimate of fair 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 Ratio17.1x
EarningsSEK 3.04b
Market CapSEK 51.97b

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 Average36.6x
PNDX B Pandox
18.2x1.04%SEK 37.0b
BALD B Fastighets AB Balder
8.7x-4.94%SEK 80.8b
SAGA A AB Sagax
30x23.89%SEK 75.0b
FABG Fabege
89.5x75.63%SEK 25.7b
CAST Castellum
17.1x31.00%SEK 52.0b

Price-To-Earnings vs Peers: CAST is good value based on its Price-To-Earnings Ratio (17.1x) compared to the peer average (36.6x).

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
0.6xn/aUS$419.58m
TORSAB Torslanda Property Investment
1.8xn/aUS$95.65m
TITA B Titania Holding
0.9x-32.36%US$55.77m
HALMEN Halmslätten Fastighets
1.2xn/aUS$35.58m
CAST 17.1xIndustry Avg. 14.6xNo. of Companies7PE0816243240+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CAST is expensive based on its Price-To-Earnings Ratio (17.1x) compared to the Swedish Real Estate industry average (14.8x).

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 Ratio17.1x
Fair PE Ratio31.1x

Price-To-Earnings vs Fair Ratio: CAST is good value based on its Price-To-Earnings Ratio (17.1x) compared to the estimated Fair Price-To-Earnings Ratio (31.1x).

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 105.60
SEK 115.40
+9.28%
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 98.00n/a10
May ’26SEK 117.05
SEK 118.73
+1.43%
12.36%SEK 150.00SEK 95.00n/a11
Apr ’26SEK 111.10
SEK 121.00
+8.91%
12.09%SEK 150.00SEK 95.00n/a10
Mar ’26SEK 119.95
SEK 121.60
+1.38%
11.22%SEK 150.00SEK 101.00n/a10
Feb ’26SEK 120.50
SEK 125.18
+3.89%
13.42%SEK 150.00SEK 102.00n/a11
Jan ’26SEK 120.55
SEK 127.91
+6.10%
13.15%SEK 150.00SEK 102.00n/a11
Dec ’25SEK 129.00
SEK 129.18
+0.14%
12.11%SEK 150.00SEK 106.00n/a11
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
May ’25SEK 133.30
SEK 124.89
-6.31%
15.89%SEK 150.00SEK 90.00SEK 117.059
Apr ’25SEK 140.90
SEK 126.90
-9.94%
15.58%SEK 150.00SEK 90.00SEK 111.1010
Mar ’25SEK 128.15
SEK 124.30
-3.00%
16.35%SEK 150.00SEK 90.00SEK 119.9510
Feb ’25SEK 134.15
SEK 124.90
-6.90%
19.07%SEK 150.00SEK 89.00SEK 120.5010
Jan ’25SEK 143.30
SEK 118.90
-17.03%
17.76%SEK 145.00SEK 84.00SEK 120.5510
Dec ’24SEK 129.25
SEK 118.00
-8.70%
18.68%SEK 145.00SEK 85.00SEK 129.0010
Nov ’24SEK 106.90
SEK 117.60
+10.01%
18.14%SEK 145.00SEK 86.00SEK 131.1510
SEK 115.4
Fair Value
8.5% undervalued intrinsic discount
10
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 Analysis2025/11/05 05:02
End of Day Share Price 2025/11/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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 21 analysts. 7 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
Paul MayBarclays