NP3 Fastigheter (OM:NP3) just put fresh numbers on the table, with its third quarter 2026 report and nine month figures showing higher sales and net income than the previous year.
The fresh report landed alongside a clear shift in sentiment. NP3 Fastigheter's share price has risen 2.71% over the last day and 3.64% over the past week, yet the 30 day share price return is down 5.60% and the year to date share price return is down 10.96%. The 1 year total shareholder return is down 10.04%, while the 3 year total shareholder return is up 65.59%. This points to longer term holders still being in positive territory even as shorter term momentum has faded.
Compare NP3 Fastigheter's latest move with a curated group of real estate players by scanning our list of solid balance sheet and fundamentals (203 results) for ideas that pair resilience with recent catalysts.
NP3 Fastigheter now trades at a clear discount to both intrinsic value estimates and analyst targets after this rebound. Is the market rightly cautious, or has the recent earnings news widened the valuation gap too much?
Preferred Multiple of 9.9x P/E: Is it justified?
On simple valuation checks, NP3 Fastigheter screens as inexpensive. The shares last closed at SEK227.50, while the stock trades on a P/E of 9.9x that is framed as good value versus both peers and the wider Swedish real estate group.
The P/E ratio compares the current share price to earnings per share. For a property owner like NP3 Fastigheter, it gives a quick sense of how much investors are paying for every unit of current profit, which can matter when earnings are supported by rental income and portfolio revaluations.
NP3 is described as trading at good value compared to peers and industry, with its 9.9x P/E sitting below the Swedish real estate industry average of 10.5x and below the peer average of 15.1x. It is also assessed as good value against an estimated fair P/E of 10x.
Explore the SWS fair ratio for NP3 Fastigheter.
Result: Price-to-earnings of 9.9x (UNDERVALUED)
Still, the annual revenue growth, alongside weaker net income and a five year total return that is down 13.23%, leaves the NP3 Fastigheter rerating story exposed.
Find out about the key risks to this NP3 Fastigheter narrative .
Another View on NP3 Fastigheter's Value
The earlier P/E check paints NP3 Fastigheter as inexpensive. A different lens tells a stronger story. Our DCF model suggests a future cash flow value of SEK334.67 per share, compared with the current SEK227.50 price, which implies the stock trades at a clear discount. The key question is whether those cash flow assumptions feel realistic enough for you to rely on them.
Look into how the SWS DCF model arrives at its fair value.
Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day ( check out NP3 Fastigheter for example ). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 191 high quality undervalued stocks . If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.
Next Steps
Mixed signals on NP3 Fastigheter's value story so far. If you want to move quickly and sharpen your own view, go straight to the 4 key rewards and 4 important warning signs
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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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