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Fabege ABFABG.STCompetitor analysis, valuation and peers

Sweden · SEK·Real Estate›Real Estate Development

Swedish real estate company that owns, develops and manages office properties concentrated in the Stockholm region.

≈ A Stockholm office-property developer/REITMomentum laggard 15
Mkt cap
$2.02B
US dollars, full cap
Free float
51%
of shares outstanding
$/day
$3.74M
20-day average traded
Fwd P/E
14.7×
forward earnings
ROIC−WACC
n/a
WACC 5.4%
Hurdle
n/a
no reverse DCF
Next earnings
91 days
5 Feb 2027
Close · SEKSEK 66.40
1D-1.2%
1W+3.0%
1M+3.0%
3M-12.3%
6M-16.2%
YTD-19.6%
1Y-19.2%
ATR %2.0%
52w lowhigh22.8% off high

What Fabege does

Swedish real estate company that owns, develops and manages office properties concentrated in the Stockholm region.

Collects rent on offices it owns, mostly on leases indexed to inflation, and adds to the portfolio by building and refurbishing. Reported profit also moves with property valuations, which follow interest rates. Holdings centre on Stockholm and Solna, including the Arenastaden district.

In one line: A Stockholm office-property developer/REIT.

Products and services

  • Office property leasing
  • Urban development projects

Customers

  • Corporate office tenants

Where it sits in the supply chain

  • Real Estate
  • Office real estate
  • Office property ownership and…

What could go right

  • Stockholm office rent growth
  • Urban development project completions

What could go wrong

  • Remote-work pressure on office demand
  • Interest-rate sensitivity of property valuations

Moat: narrow (installed base, scale). Concentrated, well-located Stockholm office portfolio with an active development pipeline.

Headquarters: Stockholm, Sweden · Founded: 1977 · Employees: 229

Named competitors

Fabege at a glance

Size Fabege (FABG.ST) is a Sweden Real Estate company (Real Estate Development) with a market value of $2.02B, the 85th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 66.40 on 6 Nov 2026.

Performance Over six months the shares fell 16.2%, against -5.4% for the median peer and +8.2% for the Sweden market (cap-weighted) — 6th lowest of 21 in its peer set.

Growth Revenue grew 26.6% over the last twelve months (peer median +4.5%); the operating margin is 58.8% (peer median 14.1%).

Valuation It trades at 14.7× forward earnings against a peer median of 13.0× (7th most expensive of 18).

Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).

Relative performance

809010011 May 202611 Aug 20266 Nov 2026Peer median 90FABG.ST 85
Six months, rebased to 100: Fabege against the median of its 20 peers (local-currency closes).

Fabege financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueSEK 4.52BSEK 3.76BSEK 3.67BSEK 3.93BSEK 3.33B
Revenue growth—+2%-7%+18%—
Gross profitSEK 2.77BSEK 2.60BSEK 2.49BSEK 2.52BSEK 2.23B
EBITDASEK 2.67BSEK 2.48BSEK 2.34BSEK 2.40BSEK 2.19B
Net incomeSEK 1.03B-SEK 348M-SEK 213M-SEK 5.52BSEK 2.38B
Free cash flowSEK 2.73BSEK 1.73BSEK 1.62BSEK 1.57BSEK 1.99B
Capital expenditureSEK 17.0MSEK 11.0MSEK 17.0MSEK 0SEK 0
Total debtSEK 36.2BSEK 36.0BSEK 35.8BSEK 33.9BSEK 34.6B

Quarterly statements and history in the cockpit →

Fabege competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-30%-20%-10%0%+10%-10%0%+10%HOME600064ALTA8848600675MVCARG000506ENTRA000620BRIGADE60496098SRELUMO0010NMRK00140363FABG.ST6-month return →1-month return →
Up and to the right = strong over both horizons. Fabege is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%+150%20×40×60×HOME600064ALTA8848MVC000620BRIGADE6049HUFV-ASRE0363FABG.STRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Fabege is the large dot.

Fabege competitors and peer comparison

Head to head with its named competitors (FABG.ST vs HUFV-A.ST vs ATRLJ-B.ST)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Fabege FABG.ST$2.02B-16%+27%59%14.7×n/a
Hufvudstaden HUFV-A.ST$2.14B-5%-4%47%20.9×n/a
Atrium Ljungberg ATRLJ-B.ST$1.45B-24%+8%55%12.3×n/a

How Fabege compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Fabege against its 20 peers (data as of 6 Nov 2026)
MeasureFABG.STPeer medianRank in peer set
1-month return+3.0%+1.4%9th highest of 21
6-month return-16.2%-5.4%6th lowest of 21
Distance from 52-week high-22.8%-26.4%10th highest of 21
Revenue growth (TTM)+26.6%+4.5%4th highest of 21
Operating margin58.8%14.1%5th highest of 21
Forward P/E14.7×13.0×7th most expensive of 18

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Fabege FABG.STSweden$2.02B-16%+27%59%14.7×n/an/a
Neinor Homes HOME.MCSpain$2.04B+10%+165%10%13.0×n/an/a
Nanjing Gaoke 600064.SSChina$2.00B-4%+4%-18%5.8×n/an/a
Altarea SCA ALTA.PAFrance$2.05B-31%-20%9%9.9×n/an/a
Leopalace21 8848.TJapan$1.99B+52%+3%8%13.0×n/an/a
China Enterprise 600675.SSChina$1.98B-15%-35%4%n/an/an/a
Metrovacesa MVC.MCSpain$1.95B-5%+58%13%26.4×n/an/a
Argan ARG.PAFrance$1.95B+14%+5%78%11.2×n/an/a
Zhaojin International Gold 000506.SZChina$1.95B-13%+42%27%n/an/an/a
Entra ENTRA.OLNorway$1.95B-4%-9%82%15.2×n/an/a
Winnovation Culturaltainment Development Limited 000620.SZChina$2.12B-6%+14%-39%66.0×n/an/a
Brigade Enterprises BRIGADE.NSIndia$1.93B-4%-4%23%20.0×n/an/a
Poly Property Services 6049.HKHong Kong$1.92B-14%+8%11%7.9×n/an/a
Country Garden Services 6098.HKHong Kong$2.13B-21%+11%4%7.0×n/an/a
Hufvudstaden HUFV-A.STSweden$2.14B-5%-4%47%20.9×n/an/a
Sirius Real Estate SRE.LUnited Kingdom$2.14B+1%+13%41%13.6×n/an/a
Lumo Homes LUMO.HEFinland$2.14B-3%+1%59%15.8×n/an/a
Hang Lung 0010.HKHong Kong$2.14B-25%+9%53%n/an/an/a
Newmark NMRKUnited States$2.16B-29%+16%7%6.1×n/an/a
Hysan Development 0014.HKHong Kong$2.16B-20%-2%72%7.5×n/an/a
Shanghai Industrial 0363.HKHong Kong$1.89B-14%-28%15%7.1×n/an/a

Questions

Who are Fabege's main competitors?
Named competitors: Hufvudstaden (HUFV-A.ST), Atrium Ljungberg (ATRLJ-B.ST), Vasakronan (private) (private or unlisted). The cockpit's measured peer set (industry) also includes Neinor Homes (HOME.MC), Nanjing Gaoke (600064.SS), Altarea SCA (ALTA.PA), Leopalace21 (8848.T), China Enterprise (600675.SS), Metrovacesa (MVC.MC).
Is Fabege expensive compared with its peers?
On forward p/e it trades at 14.7× against a peer median of 13.0×, 7th most expensive of 18 in its peer set.
How has Fabege stock performed?
Over six months to 6 Nov 2026 the shares returned -16.2% against -5.4% for the median peer; over one year -19.2%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.