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← CockpitCompetitor Analysis › WALL-B.ST Wallenstam AB Class BOpen in the cockpit ↗

Wallenstam AB Class BWALL-B.STCompetitor analysis, valuation and peers

Sweden · SEK·Real Estate›Real Estate Development

Swedish real estate company owning and developing residential and commercial properties, mainly in Gothenburg and Stockholm.

≈ A regional Swedish REIT like a smaller AvalonBay/Boston Properties hybridMomentum neutral 44
Mkt cap
$2.57B
US dollars, full cap
Free float
62%
of shares outstanding
$/day
$2.33M
20-day average traded
Fwd P/E
19.3×
forward earnings
ROIC−WACC
n/a
WACC 5.9%
Hurdle
n/a
no reverse DCF
Next earnings
91 days
5 Feb 2027
Close · SEKSEK 39.52
1D+0.1%
1W+5.8%
1M+13.7%
3M-4.9%
6M-1.6%
YTD-4.5%
1Y-10.4%
ATR %2.2%
52w lowhigh13.7% off high

What Wallenstam does

Swedish real estate company owning and developing residential and commercial properties, mainly in Gothenburg and Stockholm.

Rents in Sweden are set through collective negotiation with the tenants' union rather than by the market, so rental growth is gradual. It builds new rental housing mainly for its own portfolio and keeps wind power to supply its own demand and sell surplus electricity. Founder Hans Wallenstam is the largest shareholder.

In one line: A regional Swedish REIT like a smaller AvalonBay/Boston Properties hybrid.

Products and services

  • Residential rental properties
  • Commercial/office properties
  • Wind power/renewable energy assets

Customers

  • Residential tenants
  • Commercial tenants

Where it sits in the supply chain

  • Real Estate
  • Diversified real estate
  • Residential and commercial property…

What could go right

  • Urban residential demand in Gothenburg/Stockholm
  • Renewable energy asset monetization

What could go wrong

  • Interest-rate sensitivity of property valuations
  • Rent-regulation policy in Sweden

Moat: narrow (installed base, scale). Concentrated, well-located urban portfolio in growth cities gives some pricing power on rents.

Headquarters: Gothenburg, Sweden · Founded: 1944 · Employees: 249

Named competitors

Wallenstam at a glance

Size Wallenstam (WALL-B.ST) is a Sweden Real Estate company (Real Estate Development) with a market value of $2.57B, the 65th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 39.52 on 6 Nov 2026.

Performance Over six months the shares fell 1.6%, against -14.0% for the median peer and +8.2% for the Sweden market (cap-weighted) — 4th highest of 20 in its peer set.

Growth Revenue grew 1.9% over the last twelve months (peer median +7.1%); the operating margin is 60.2% (peer median 28.6%).

Valuation It trades at 19.3× forward earnings against a peer median of 15.6× (8th most expensive of 17).

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

Relative performance

809010011 May 202611 Aug 20266 Nov 2026WALL-B.ST 99Peer median 84
Six months, rebased to 100: Wallenstam against the median of its 20 peers (local-currency closes).

Wallenstam financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueSEK 3.31BSEK 3.25BSEK 3.16BSEK 3.34BSEK 2.79B
Revenue growth—+3%-5%+20%—
Gross profitSEK 2.44BSEK 2.38BSEK 2.29BSEK 2.25BSEK 2.05B
EBITDASEK 2.06BSEK 2.03BSEK 1.99BSEK 1.93BSEK 1.79B
Net incomeSEK 2.94BSEK 2.56BSEK 774M-SEK 450MSEK 1.10B
Free cash flowSEK 1.41BSEK 1.38BSEK 1.22BSEK 1.33BSEK 1.18B
Capital expenditureSEK 3.00MSEK 17.0MSEK 10.0MSEK 11.0MSEK 27.0M
Total debtSEK 35.0BSEK 33.9BSEK 31.0BSEK 29.6BSEK 28.8B

Quarterly statements and history in the cockpit →

Wallenstam 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

-20%0%+20%+40%-20%0%+20%SVSCATETEG6006066002462542000029TQ526028876WIHLIREN0005370014NMRK6000950010U06LUMOWALL-B.ST6-month return →1-month return →
Up and to the right = strong over both horizons. Wallenstam is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%0×20×40×60×SVSCATETEG6006062542TQ52602WIHLIREN0005370014NMRK600095LUMOWALL-B.STRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Wallenstam is the large dot.

Wallenstam competitors and peer comparison

Head to head with its named competitors (WALL-B.ST vs FABG.ST vs ATRLJ-B.ST vs CAST.ST)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Wallenstam WALL-B.ST$2.57B-2%+2%60%19.3×n/a
Fabege FABG.ST$2.02B-16%+27%59%14.7×n/a
Atrium Ljungberg ATRLJ-B.ST$1.45B-24%+8%55%12.3×n/a
Castellum CAST.ST$5.94B+10%-3%67%16.1×n/a
Platzer Fastigheter PLAZ-B.ST$776M-12%+1%74%9.2×n/a
Hufvudstaden HUFV-A.ST$2.14B-5%-4%47%20.9×n/a
HEBA Fastighets HEBA-B.ST$397M-7%+5%66%16.4×n/a
Samhallsbyggnadsbolaget I Norden SBB-B.ST$429M-31%-30%45%n/an/a

How Wallenstam 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.

Wallenstam against its 20 peers (data as of 6 Nov 2026)
MeasureWALL-B.STPeer medianRank in peer set
1-month return+13.7%-2.6%4th highest of 21
6-month return-1.6%-14.0%4th highest of 20
Distance from 52-week high-13.7%-29.4%4th highest of 21
Revenue growth (TTM)+1.9%+7.1%8th lowest of 20
Operating margin60.2%28.6%5th highest of 20
Forward P/E19.3×15.6×8th most expensive of 17

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
Wallenstam WALL-B.STSweden$2.57B-2%+2%60%19.3×n/an/a
Savills SVS.LUnited Kingdom$2.56B+37%+7%5%13.4×n/an/a
Eaglerock Land LLC EROKUnited States$2.60Bn/an/an/a29.6×n/an/a
Catena CATE.STSweden$2.61B-11%+17%82%13.4×n/an/a
TAG Immobilien TEG.DEGermany$2.51B-20%-5%31%10.1×n/an/a
Greenland 600606.SSChina$2.66B-20%-30%-12%63.0×n/an/a
Vantone Neo Development 600246.SSChina$2.69B-14%+22%-152%n/an/an/a
Highwealth Construction 2542.TWTaiwan$2.42B-5%+111%25%4.3×n/an/a
Shenzhen Special Economic Zone Real Estate and Properties (Group) 000029.SZChina$2.73B-6%-24%14%n/an/an/a
Frasers Property TQ5.SISingapore$2.80B-20%-21%29%26.8×n/an/a
Onewo 2602.HKHong Kong$2.84B+6%+8%3%20.6×n/an/a
Relo 8876.TJapan$2.30B+21%+7%20%15.5×n/an/a
Wihlborgs Fastigheter WIHL.STSweden$2.28B-14%+7%70%10.8×n/an/a
Investis IREN.SWSwitzerland$2.26B-2%+10%67%32.9×n/an/a
Green Development Electricity Group of Tianjin 000537.SZChina$2.19B-28%+13%31%37.3×n/an/a
Hysan Development 0014.HKHong Kong$2.16B-20%-2%72%7.5×n/an/a
Newmark NMRKUnited States$2.16B-29%+16%7%6.1×n/an/a
Xiangcai 600095.SSChina$3.07B-19%-3%12%26.5×n/an/a
Hang Lung 0010.HKHong Kong$2.14B-25%+9%53%n/an/an/a
Singapore Land U06.SISingapore$3.08B-25%+4%36%n/an/an/a
Lumo Homes LUMO.HEFinland$2.14B-3%+1%59%15.8×n/an/a

Questions

Who are Wallenstam's main competitors?
Named competitors: Fabege (FABG.ST), Atrium Ljungberg (ATRLJ-B.ST), Balder (private/listed peers) (private or unlisted), Castellum (CAST.ST), Platzer Fastigheter (PLAZ-B.ST), Hufvudstaden (HUFV-A.ST). The cockpit's measured peer set (industry) also includes Savills (SVS.L), Eaglerock Land LLC (EROK), Catena (CATE.ST), TAG Immobilien (TEG.DE), Greenland (600606.SS), Vantone Neo Development (600246.SS).
Is Wallenstam expensive compared with its peers?
On forward p/e it trades at 19.3× against a peer median of 15.6×, 8th most expensive of 17 in its peer set.
How has Wallenstam stock performed?
Over six months to 6 Nov 2026 the shares returned -1.6% against -14.0% for the median peer; over one year -10.4%.

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.