SAGA-D Stock Analysis: AB Sagax (publ) | ST
Real Estate Services | ST, Sweden | Market Cap: 15.311m SEK | 12M Return: -3.8% | SE0009161052 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 22.4M
Rev. Trend: 96.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality
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 across Sweden, Finland, France, the Benelux countries, Spain, Germany, and other European markets. In addition to property ownership, the company provides financial administration and asset management services. Founded in 1995 and headquartered in Stockholm, Sagax operates as a real estate operating company, generating rental income primarily through long-term leases with industrial and logistics tenants across Europe.
- ECB rate cuts ease leverage costs across European portfolio
- Warehouse and light industrial rental income rises on index-linked leases
- Nordic and European property valuations re-rate with long-term yields
| Net Income: 5.38b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -3.37 > 1.0 |
| NWC/Revenue: -90.65% < 20% (prev -141.5%; Δ 50.90% < -1%) |
| CFO/TA 0.05 > 3% & CFO 4.33b > Net Income 5.38b |
| Net Debt (40.2b) to EBITDA (4.29b): 9.37 < 3 |
| Current Ratio: 0.39 > 1.5 & < 3 |
| Outstanding Shares: last quarter (338.4m) vs 12m ago 0.00% < -2% |
| Gross Margin: 81.30% > 18% (prev 91.98%; Δ -10.69% > 0.5%) |
| Asset Turnover: 6.14% > 50% (prev 6.26%; Δ -0.12% > 0%) |
| Interest Coverage Ratio: 3.62 > 6 (EBIT TTM 4.28b / Interest Expense TTM 1.18b) |
| A: -0.05 (Total Current Assets 3.18b - Total Current Liabilities 8.17b) / Total Assets 94.9b |
| B: 0.34 (Retained Earnings 32.4b / Total Assets 94.9b) |
| C: 0.05 (EBIT TTM 4.28b / Avg Total Assets 89.6b) |
| D: 0.91 (Book Value of Equity 45.2b / Total Liabilities 49.5b) |
| Altman-Z'' = 2.05 = BBB |
| DSRI: 0.92 (Receivables 426.0m/445.0m, Revenue 5.51b/5.29b) |
| GMI: 1.13 (GM 91.98% / 81.30%) |
| AQI: 0.98 (AQ_t 0.96 / AQ_t-1 0.97) |
| SGI: 1.04 (Revenue 5.51b / 5.29b) |
| TATA: 0.01 (NI 5.38b - CFO 4.33b) / TA 94.9b) |
| Beneish M = -2.95 (Cap -4..+1) = A |
As of October 17, 2026, the stock is trading at SEK 30.95 with a total of 536,173 shares traded. Over the past week, the price has changed by +1.14%, over one month by -5.69%, over three months by -5.12% and over the past year by -3.80%.
Current recommended Stop Loss: 30.40 (which is 1.8% or 1.5 ATR below the current price).
AB Sagax (publ) has no consensus analysts rating.
P/E Trailing = 2.0524
P/E Forward = 5.4466
P/S = 2.7961
P/B = 0.354
Revenue TTM = 5.51b SEK
EBIT TTM = 4.28b SEK
EBITDA TTM = 4.29b SEK
Long Term Debt = 33.6b SEK (from longTermDebt, last quarter)
Short Term Debt = 8.17b SEK (from shortTermDebt, last quarter)
Debt = 43.0b SEK (from shortLongTermDebtTotal, last quarter) + Leases 662.0m
Net Debt = 40.2b SEK (calculated: Debt 43.0b - CCE 2.76b)
Enterprise Value = 55.6b SEK (15.3b + Debt 43.0b - CCE 2.76b)
Interest Coverage Ratio = 3.62 (Ebit TTM 4.28b / Interest Expense TTM 1.18b)
EV/FCF = 1000.0x (Enterprise Value 55.6b / FCF TTM 42.0m)
FCF Yield = 0.08% (FCF TTM 42.0m / Enterprise Value 55.6b)
FCF Margin = 0.76% (FCF TTM 42.0m / Revenue TTM 5.51b)
Net Margin = 97.78% (Net Income TTM 5.38b / Revenue TTM 5.51b)
Gross Margin = 81.30% ((Revenue TTM 5.51b - Cost of Revenue TTM 1.03b) / Revenue TTM)
Gross Margin QoQ = 81.71% (prev 79.01%)
Tobins Q-Ratio = 0.59 (Enterprise Value 55.6b / Total Assets 94.9b)
Interest Expense / Debt = 2.75% (Interest Expense 1.18b / Debt 43.0b)
Taxrate = 10.30% (620.0m / 6.02b)
NOPAT = 3.84b (EBIT 4.28b * (1 - 10.30%))
Current Ratio = 0.39 (Total Current Assets 3.18b / Total Current Liabilities 8.17b)
Debt / Equity = 0.95 (Debt 43.0b / totalStockholderEquity, last quarter 45.2b)
Debt / EBITDA = 9.37 (Net Debt 40.2b / EBITDA 4.29b)
Debt / FCF = 958.2 (Net Debt 40.2b / FCF TTM 42.0m)
Total Stockholder Equity = 43.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.01% (Net Income 5.38b / Total Assets 94.9b)
RoE = 12.44% (Net Income TTM 5.38b / Total Stockholder Equity 43.3b)
RoCE = 5.57% (EBIT 4.28b / Capital Employed (Equity 43.3b + L.T.Debt 33.6b))
RoIC = 4.06% (NOPAT 3.84b / Invested Capital 94.6b)
WACC = 3.37% (E(15.3b)/V(58.3b) * Re(5.92%) + D(43.0b)/V(58.3b) * Rd(2.75%) * (1-Tc(0.10)))
Discount Rate = 5.92% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -21.34 | Cagr: -13.14%
[DCF] Terminal Value 73.10% ; FCFF base≈1.18b ; Y1≈1.03b ; Y5≈834.1m
[DCF] Fair Price = N/A (negative equity: EV 13.4b - Net Debt 40.2b = -26.9b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 95.96 | Revenue CAGR: 10.73% | SUE: 0.04 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=+4.8%
EPS next Year (2027-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=+7.2%