NP3 Fastigheter just dropped its Q3 2026 report and the headline is simple. Profit looked strong on paper while the share price went nowhere. The stock closed Friday at SEK227.50, roughly flat over the past week and still down over the last three months, even as quarterly basic earnings per share landed at SEK7.77 on SEK639m in rental income.
The emotional gap sits between that healthy income line and lingering worries about interest coverage and future earnings pressure. Short term traders reacted cautiously. The figures invite a harder question about whether that restraint is grounded or too pessimistic.
Love NP3 Fastigheter's solid rental income but concerned about interest coverage and earnings pressure risk? Check out the list of solid balance sheet and fundamentals stocks (204 results) for companies that combine income strength with sturdier financial cushions.
Q3 2026 Earnings Summary
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Total Revenue (Q3 2026 vs Q3 2025):SEK639m vs. SEK572m (up about 11.7%)
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Net Income ex. extra items (Q3 2026 vs Q3 2025):SEK479m vs. SEK311m (up about 54.0%)
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Basic EPS (Q3 2026 vs Q3 2025):SEK7.77 vs. SEK5.05 (up about 53.9%)
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Trailing 12 month Net Margin (Q3 2026 vs prior year TTM):64.5% vs. 49.3% (margin higher, supported by a SEK672.0m one off gain)
Look past the headline profit jump. Ask Charlie what NP3 Fastigheter's one-off gain really means .
Income story for NP3 Fastigheter still intact
For anyone leaning positive on NP3 Fastigheter, the fresh Q3 figures give some backing. Rental income of SEK639m and basic EPS of SEK7.77 both move in the same direction as the wider jump in underlying net income. The trailing 12 month net margin rising to 64.5%, helped by a SEK672.0m one off gain, keeps the profitability story front and centre. Recent industrial focused acquisitions around Sweden also fit the idea of NP3 as a regional commercial cash flow platform that keeps adding income producing assets.
Bear case focuses on rates and earnings pressure
The more cautious read on NP3 Fastigheter still has some footing. Share returns are down about 6% over 30 days and about 13% over 90 days even as earnings metrics look strong, which hints at continuing concern about interest costs, refinancing and potential earnings pressure. The margin uplift leans on a one off gain rather than purely recurring rent. Recent property purchases at SEK286m, only partly offset by SEK64m of disposals, also keep leverage in focus for anyone worried about how higher funding costs hit future profit stability.
Do analysts think NP3 Fastigheter's income engine still outweighs the interest and earnings pressure risk? Check the consensus price target analysis for NP3 Fastigheter .
Hunt For Quiet Price Dislocations
NP3 Fastigheter shows how strong reported earnings can sit beside a flat share price and concern about interest costs. The real opportunity is spotting stocks that could be undervalued before sentiment shifts.
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Company 1 - 37% below our estimate - expands through design and engineering acquisitions that bring in recurring infrastructure consulting contracts.
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Company 2 - 47% below our estimate - grows sterile injectable manufacturing and contract production as clients move specialized drug fill work to expanded plants.
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Three companies from the same screener. Open the full list of 186 companies trading below our fair value estimates →
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include NP3.ST .
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