Stenhus Fastigheter i Norden AB (publ)

SFAST.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 Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Exceptional

Cash Flow

Strong

Stability

Mixed

Valuation

Good

Dividends

Mixed

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Winston Score History

The full picture

Stenhus Fastigheter i Norden AB is a Swedish real estate company that owns and manages commercial properties across the Nordic region. Its main assets are properties leased to businesses, including logistics facilities, light industrial buildings, and offices. The company focuses on stable, income-producing real estate rather than building homes for regular buyers.

Stenhus makes money by collecting rent from business tenants who sign long-term lease agreements, which creates a steady and predictable income stream. It operates primarily in Sweden and the broader Nordic market, and its high gross margins reflect the relatively low operating costs typical of commercial property ownership. The company's main risk is rising interest rates, which increase borrowing costs and can reduce the value of its property portfolio — a significant concern for any real estate company carrying debt to fund acquisitions and growth.

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

+2.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+84.6% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

64.4%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

kr 14.4B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

Stenhus Fastigheter i Norden AB (publ) is growing revenue at 3% 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

80.3%

Premium pricing power — 80.3% gross margin

Profit after running costs

Operating Margin

74.1%

Excellent — 74.1% operating margin

Return on the money invested

ROCE

5.5%

Weak — 5.5% 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

+5.6%

Slow sales growth (+5.6% YoY)

Profit growth

EPS YoY

+130.2%

Earnings growing fast (+130.2% YoY)

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

How steady the profit is

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

75%

Modest — 75% of profit becomes cash

Spare cash per sale

FCF Margin

35.9%

Converts sales into free cash efficiently (35.9%)

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

1.37

Elevated debt (1.37)

Covers its interest

Interest Cover

1.75x

Dangerous — barely covers interest (1.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

8.3x

no trend

Attractive valuation — P/E 8.3

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

Cheaper or dearer next year

P/E vs Forward

-1.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

2.15%

no trend

Moderate income — 2.15% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

N/A

no trend

Data not available

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