SAGA-B Stock Analysis: AB Sagax (publ) | ST
Real Estate Services | ST, Sweden | Market Cap: 79.500m SEK | 12M Return: -21.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 84.0M
EPS Trend: 77.9%
Qual. Beats: 0
Rev. Trend: 97.1%
Qual. Beats: -1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
AB Sagax (publ) is a Swedish property company that owns and manages a commercial real estate portfolio concentrated in the warehouse and light industrial segments. Its assets are spread across multiple European markets, including Sweden, Finland, France, the Benelux countries, Spain, and Germany, among others. In addition to direct property ownership, the company carries out financial administration and asset management activities, suggesting a hybrid operating model that combines landlord operations with third-party services. Founded in 1995 and headquartered in Stockholm, Sagax is listed on the Stockholm Stock Exchange under the ticker SAGA-B.
As a Real Estate Operating Company in GICS classification, Sagax primarily generates revenue through rental income on owned assets, with the warehouse and light industrial focus tying its performance closely to logistics demand, supply-chain investment, and e-commerce activity across Europe. This sub-sector typically features long lease terms, low ongoing capex relative to other property types, and a significant degree of sensitivity to interest-rate movements given the capital-intensive, debt-funded nature of the business.
- European interest rate hikes pressure property valuations and cap rates
- Warehouse and light industrial rental income grows across core European markets
- Bond issuance and equity capital fund portfolio expansion
| Net Income: 4.55b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.66 > 1.0 |
| NWC/Revenue: -92.58% < 20% (prev -95.71%; Δ 3.13% < -1%) |
| CFO/TA 0.04 > 3% & CFO 3.50b > Net Income 4.55b |
| Net Debt (38.9b) to EBITDA (4.27b): 9.10 < 3 |
| Current Ratio: 0.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (464.7m) vs 12m ago 37.28% < -2% |
| Gross Margin: 83.80% > 18% (prev 90.02%; Δ -6.22% > 0.5%) |
| Asset Turnover: 6.26% > 50% (prev 6.28%; Δ -0.02% > 0%) |
| Interest Coverage Ratio: 3.81 > 6 (EBIT TTM 4.26b / Interest Expense TTM 1.12b) |
| A: -0.06 (Total Current Assets 2.76b - Total Current Liabilities 7.80b) / Total Assets 91.5b |
| B: 0.36 (Retained Earnings 32.6b / Total Assets 91.5b) |
| C: 0.05 (EBIT TTM 4.26b / Avg Total Assets 87.0b) |
| D: 0.94 (Book Value of Equity 44.2b / Total Liabilities 47.1b) |
| Altman-Z'' = 2.11 = BBB |
| DSRI: 0.80 (Receivables 546.0m/649.0m, Revenue 5.45b/5.18b) |
| GMI: 1.07 (GM 90.02% / 83.80%) |
| AQI: 0.99 (AQ_t 0.96 / AQ_t-1 0.97) |
| SGI: 1.05 (Revenue 5.45b / 5.18b) |
| TATA: 0.01 (NI 4.55b - CFO 3.50b) / TA 91.5b) |
| Beneish M = -3.09 (Cap -4..+1) = AA |
As of July 14, 2026, the stock is trading at SEK 162.70 with a total of 305,149 shares traded. Over the past week, the price has changed by -2.57%, over one month by +4.56%, over three months by -10.98% and over the past year by -21.13%.
Current recommended Stop Loss: 152.40 (which is 6.3% or 2 ATR below the current price).
AB Sagax (publ) has no consensus analysts rating.
P/E Trailing = 12.6735
P/E Forward = 24.2131
P/S = 14.6814
P/B = 1.8131
Revenue TTM = 5.45b SEK
EBIT TTM = 4.26b SEK
EBITDA TTM = 4.27b SEK
Long Term Debt = 32.0b SEK (from longTermDebt, last quarter)
Short Term Debt = 7.80b SEK (from shortTermDebt, last quarter)
Debt = 41.1b SEK (from shortLongTermDebtTotal, last quarter) + Leases 656.0m
Net Debt = 38.9b SEK (calculated: Debt 41.1b - CCE 2.21b)
Enterprise Value = 118b SEK (79.5b + Debt 41.1b - CCE 2.21b)
Interest Coverage Ratio = 3.81 (Ebit TTM 4.26b / Interest Expense TTM 1.12b)
EV/FCF = 69.05x (Enterprise Value 118b / FCF TTM 1.71b)
FCF Yield = 1.45% (FCF TTM 1.71b / Enterprise Value 118b)
FCF Margin = 31.48% (FCF TTM 1.71b / Revenue TTM 5.45b)
Net Margin = 83.49% (Net Income TTM 4.55b / Revenue TTM 5.45b)
Gross Margin = 83.80% ((Revenue TTM 5.45b - Cost of Revenue TTM 882.0m) / Revenue TTM)
Gross Margin QoQ = 79.01% (prev 80.39%)
Tobins Q-Ratio = 1.29 (Enterprise Value 118b / Total Assets 91.5b)
Interest Expense / Debt = 2.72% (Interest Expense 1.12b / Debt 41.1b)
Taxrate = 10.17% (517.0m / 5.08b)
NOPAT = 3.82b (EBIT 4.26b * (1 - 10.17%))
Current Ratio = 0.35 (Total Current Assets 2.76b / Total Current Liabilities 7.80b)
Debt / Equity = 0.93 (Debt 41.1b / totalStockholderEquity, last quarter 44.2b)
Debt / EBITDA = 9.10 (Net Debt 38.9b / EBITDA 4.27b)
Debt / FCF = 22.67 (Net Debt 38.9b / FCF TTM 1.71b)
Total Stockholder Equity = 42.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.22% (Net Income 4.55b / Total Assets 91.5b)
RoE = 10.80% (Net Income TTM 4.55b / Total Stockholder Equity 42.1b)
RoCE = 5.74% (EBIT 4.26b / Capital Employed (Equity 42.1b + L.T.Debt 32.0b))
RoIC = 4.19% (NOPAT 3.82b / Invested Capital 91.2b)
WACC = 5.23% (E(79.5b)/V(121b) * Re(6.67%) + D(41.1b)/V(121b) * Rd(2.72%) * (1-Tc(0.10)))
Discount Rate = 6.67% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 0.0 | Cagr: 0.45%
[DCF] Terminal Value 73.10% ; FCFF base≈2.19b ; Y1≈1.92b ; Y5≈1.55b
[DCF] Fair Price = N/A (negative equity: EV 24.9b - Net Debt 38.9b = -13.9b; debt exceeds intrinsic value)
EPS Correlation: 77.95 | EPS CAGR: 88.40% | SUE: -0.06 | # QB: 0
Revenue Correlation: 97.06 | Revenue CAGR: 12.43% | SUE: -1.12 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=11.95 | Chg30d=-0.42% | Revisions=-25% | GrowthEPS=+6.5% | GrowthRev=+2.0%
EPS next Year (2027-12-31): EPS=11.74 | Chg30d=+4.08% | Revisions=-25% | GrowthEPS=-1.8% | GrowthRev=+4.7%
[Analyst] Revisions Ratio: -40% (up=0, down=2)