S 
Stenhus Fastigheter I Norden AB (publ) SFAST.ST · SEK
Real Estate · Nasdaq Stockholm · 🇸🇪 Sweden
10.94
+3.01%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 1.04bn
FY2019FY2025
Net income
SEK 377.1m
FY2019FY2025
Free cash flow
SEK 415.9m
FY2019FY2025
Shareholders' equity
SEK 5.97bn
FY2019FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.04bn | SEK 1.01bn | SEK 1.02bn | SEK 712.4m | SEK 283.6m | SEK 83.4m | SEK 86.9m |
| Gross profit | SEK 800.5m | SEK 783.5m | SEK 790.1m | SEK 556.5m | SEK 224.8m | SEK 43.2m | SEK 44.3m |
| Research and development | — | — | SEK 0 | SEK 0 | SEK 4 | SEK 4 | — |
| Operating income | SEK 732.0m | SEK 717.6m | SEK 729.7m | SEK 462.3m | SEK 1.09bn | SEK 276.9m | SEK 44.7m |
| Net income | SEK 377.1m | SEK 56.4m | −SEK 413.1m | SEK 212.5m | SEK 792.0m | SEK 216.7m | SEK 31.5m |
| Diluted earnings per share | 1.06 | 0.15 | -1.11 | 0.57 | 3.07 | 3.31 | 0.24 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Total assets | SEK 14.93bn | SEK 14.08bn | SEK 14.67bn | SEK 15.36bn | SEK 8.07bn | SEK 2.12bn | — |
| Cash and short-term investments | SEK 542.8m | SEK 224.9m | SEK 306.2m | SEK 343.6m | SEK 333.9m | SEK 451.6m | — |
| Total liabilities | SEK 8.96bn | SEK 8.16bn | SEK 8.77bn | SEK 9.19bn | SEK 4.15bn | SEK 754.9m | — |
| Debt | SEK 7.97bn | SEK 7.59bn | SEK 8.15bn | SEK 8.49bn | SEK 3.73bn | SEK 707.0m | — |
| Shareholders' equity | SEK 5.97bn | SEK 5.81bn | SEK 5.71bn | SEK 6.12bn | SEK 3.90bn | SEK 1.36bn | — |
| Shares outstanding | 357m | 372m | 371m | 370m | 258m | 65m | 130m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 416.0m | SEK 254.9m | SEK 345.2m | SEK 292.9m | SEK 192.9m | SEK 29.0m | — |
| Capital spending | −SEK 100,000 | −SEK 1.4m | −SEK 1.6m | −SEK 4.6m | −SEK 582,000 | −SEK 30,000 | — |
| Free cash flow | SEK 415.9m | SEK 253.5m | SEK 343.6m | SEK 288.3m | SEK 192.3m | SEK 28.9m | — |
| Dividends paid | −SEK 72.1m | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 257.0m | SEK 263.0m | SEK 270.6m | SEK 258.0m | SEK 250.6m | SEK 256.8m | SEK 244.9m | SEK 241.1m |
| Gross profit | SEK 206.3m | SEK 196.4m | SEK 205.9m | SEK 213.0m | SEK 193.6m | SEK 188.0m | SEK 190.3m | SEK 194.8m |
| Operating income | SEK 190.4m | SEK 181.4m | SEK 189.9m | SEK 194.7m | SEK 175.2m | SEK 170.7m | SEK 174.3m | SEK 194.8m |
| Net income | SEK 81.5m | SEK 189.2m | SEK 130.8m | SEK 106.7m | SEK 48.4m | SEK 91.1m | SEK 107.8m | −SEK 14.1m |
| Diluted earnings per share | 0.24 | 0.57 | 0.37 | 0.30 | 0.14 | 0.26 | 0.29 | -0.04 |
| Cash from operations | SEK 109.0m | SEK 15.0m | SEK 127.0m | SEK 127.0m | SEK 117.0m | SEK 43.0m | SEK 91.0m | SEK 38.0m |
| Capital spending | −SEK 1.0m | −SEK 1.0m | — | — | — | — | — | — |
| Free cash flow | SEK 108.0m | SEK 14.0m | — | — | — | — | — | — |
| Total assets | SEK 14.81bn | SEK 14.88bn | SEK 14.93bn | SEK 14.97bn | SEK 14.27bn | SEK 14.37bn | SEK 14.08bn | SEK 13.99bn |
| Cash and short-term investments | SEK 218.0m | SEK 294.3m | SEK 542.8m | SEK 627.8m | SEK 453.2m | SEK 348.0m | SEK 224.9m | SEK 317.3m |
| Debt | SEK 8.01bn | SEK 8.09bn | SEK 7.97bn | SEK 8.07bn | SEK 7.52bn | SEK 7.63bn | SEK 7.39bn | SEK 7.40bn |
| Shareholders' equity | SEK 5.84bn | SEK 5.90bn | SEK 5.97bn | SEK 5.90bn | SEK 5.80bn | SEK 5.87bn | SEK 5.81bn | SEK 5.69bn |
Financial ratios
Data as of 20 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 77.3% | 77.4% | 77.5% | 78.1% | 79.2% | 51.8% |
| Operating margin | 90.3% | 57.4% | 2.7% | 75.6% | 375.9% | 332.2% |
| Net margin | 36.4% | 5.6% | -40.5% | 29.8% | 279.2% | 260.0% |
| Return on equity | 6.3% | 1.0% | -7.2% | 3.5% | 20.3% | 15.9% |
| Return on assets | 2.5% | 0.4% | -2.8% | 1.4% | 9.8% | 10.2% |
| Free cash flow yield | 11.1% | 6.5% | 8.9% | 7.5% | 7.1% | 4.2% |
| Revenue growth | 2.4% | -0.7% | 43.0% | 151.2% | 240.3% | -4.1% |
| Earnings growth | 568.0% | -113.7% | -294.4% | -73.2% | 265.5% | 587.0% |
| Current ratio | 0.65x | 0.31x | 0.26x | 0.23x | 0.41x | 3.92x |
| Debt to equity | 1.34x | 1.27x | 1.39x | 1.36x | 0.92x | 0.51x |
| Equity ratio | 40.0% | 41.3% | 38.9% | 39.9% | 48.4% | 64.3% |
| Interest coverage | 2.30x | 1.28x | 0.06x | 2.82x | 21.10x | 21.17x |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 3.9% | -0.3% | -0.1% | -43.7% | -294.1% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.9% | 55.0% | — |
| Operating income | 16.6% | 21.5% | — |
| Net income | 21.1% | 11.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 77.4% | 77.5% | 77.1% | — |
| Operating margin | 70.8% | 69.9% | 96.7% | — |
| Net margin | 21.2% | 6.2% | 29.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | 10.8 | 75.5 | -9.4 | 19.5 | 9.7 | 3.1 |
| Price to sales | 6.5 | 7.7 | 6.3 | 8.1 | 33.2 | 9.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 29 May 2026.
| FY2026 | FY2025 | |
|---|---|---|
| Paid in the year | 0.16 | 0.30 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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