Solnaberg Property AB (publ)

SOLNA.ST

Real Estate - Development · Real Estate

Exchange

Stockholm Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Strong

Stability

Good

Valuation

Good

Dividends

Good

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Winston Score History

The full picture

Solnaberg Property AB is a Swedish real estate company that owns and manages commercial properties. Its portfolio is concentrated in Solna, a municipality just north of Stockholm, and the properties are primarily rented out to business tenants such as offices and similar commercial users. The company is relatively small, with a market value of around 0.4 billion dollars.

The company makes money by collecting rent from tenants who lease space in its buildings. Its very high gross and operating margins — around 88% and 85% respectively — reflect the low direct costs typical of a property-holding business. Operations are focused entirely in Sweden, giving it a narrow geographic footprint compared to larger Nordic real estate firms. The main risk the company faces is tenant concentration and dependence on the health of the Stockholm-area commercial property market, where rising vacancy rates or falling rents could meaningfully reduce income.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+22.9% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

44.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 1.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Solnaberg Property AB (publ) is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

78.0%

Premium pricing power — 78.0% gross margin

Profit after running costs

Operating Margin

73.5%

Excellent — 73.5% operating margin

Return on the money invested

ROCE

6.0%

Weak — 6.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+2.9%

Nearly flat sales (+2.9% YoY)

Profit growth

EPS YoY

+51.8%

Earnings growing fast (+51.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

91%

Modest — 91% of profit becomes cash

Spare cash per sale

FCF Margin

45.6%

Converts sales into free cash efficiently (45.6%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.92

Moderate — manageable debt (0.92)

Covers its interest

Interest Cover

3.57x

Tight — interest eats into profit (3.6x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

9.1x

no trend

Attractive valuation — P/E 9.1

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

6.90%

no trend

Healthy income — 6.90% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+0.0%

no trend

Dividend flat

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