2026 Q2 - tulosraportti
95 päivää sitten
‧38 min
1,20 SEK/osake
Viimeisin osinko
0,00%Tuotto/v
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 492 | - | - | ||
| 11 601 | - | - | ||
| 2 377 | - | - | ||
| 9 000 | - | - | ||
| 3 658 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 16.7. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 7.11.2025 | ||
2025 Q2 - tulosraportti 20.8.2025 |
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
·2 t sittenShort article about SBB: https://finance.yahoo.com/markets/stocks/articles/changed-sbb-since-58-fall-031844834.html
·3 t sittenI promise to write no more about this company and its subsidiaries. But since I have tangled myself up in some discussions far down in the threads below, I am writing one final post before I sign off. The last question I received, after I had pointed out that the companies fail to generate a positive cash flow, something one can also see from the annual reports, was whether I had forgotten that the net asset value in SBB is 8 kroner per share. The answer is no. I have not forgotten it. I am questioning it - and particularly what one actually means by "substans" (net asset value). First of all, it is at best debated that the net asset value in SBB is 8 SEK per share. Accounting-wise it is correct, as SBB owns more than 50 % of Sveafastigheter and therefore consolidates this company's assets and liabilities in its own balance sheet. In this way, the book values in Sveafastigheter are reflected in SBB's balance sheet. But please note the following: If this equity stake had instead been valued at market value, and SBB's values had been assessed as in an investment company, which at least now it is said that it is supposed to be, SBB's equity value would not have been higher than approximately today's share price, thus somewhat below 3 kroner per share. (See previous posts - I cannot be bothered to calculate this again.) When one nevertheless insists that the "net asset value" is 8 kroner, what does one actually mean by that? That the equity stake in Sveafastigheter etc in reality is worth far more than what the market is willing to pay? Clearly. Anyone can after all buy shares in Sveafastigheter, and the buyers are unfortunately not exactly standing in line. What are we then to believe? That the shares are "really" worth very much more than what anyone is actually willing to pay? But fine. Let us disregard the market price and take as a starting point that Sveafastigheter is mispriced. That is a discussion I am happy to participate in. But then we must at least agree that the real value theoretically can be both HIGHER and LOWER than today's market value. And precisely with this as a starting point I make my own valuation, based on a completely fundamental principle within finance: A company is worth the present value of the future cash flows it can generate. My point with the previous calculations is that this cash flow, after necessary maintenance investments and financing costs, in practice is ZERO. Then the book value of the properties can be as high as anyone likes. In my world, the real equity value of the company is not necessarily positive for that reason. For the sake of simplicity, I here take Sveafastigheter as my starting point: If the company fails to generate any real, lasting cash flow to the shareholders, it is hard to defend a high equity value, no matter what the properties are booked at. Sure, there seems to be a positive EPS on the bottom line. But in my assessment, this is largely due to the company's management choosing to capitalize a significant portion of the expenses related to maintenance, i.e., treating almost everything as investments, while only expensing a ridiculously low maintenance cost of just over 3.000 SEK per apartment per year. In my view, there is an obvious discrepancy between what the financial statements give the impression of, and the underlying economic realities. And just to be completely transparent to those of you who cling to the belief that this company has a golden future: I suggest you ask ChatGPT the following question and see what answer you get: "If Sveafastigheter, instead of spending close to zero on maintenance (just over 3.000 SEK per year per apartment), had spent just as much per m² on maintenance as comparable European real estate companies, as well as paid interest on all its financing corresponding to the interest rate on the most recently issued bond plus 0.3 percentage points to account for the latest interest rate hike in the market, how much would the annual EPS have been?" The answer: Negative EPS. And if one then asks what the cash generation will be, it does not exactly look very pretty. And it is precisely this that is the core of my argumentation: Book values are one thing. The ability to create real economic values for the shareholders is something entirely different. So with that; Thank you and good luck with the investments going forward. I have said my piece and will not comment on this company any further.
·15.10.Why not put an end to this eternal suffering, realize all of SBB, distribute everything to the shareholders and put an end to this misery. Then all those who want a real estate company can create a new one without this mess - history that SBB is burdened with!?Feel free to set up a list of the companies that want to pay cash book value for the properties in the subsidiaries... then I want to know which companies I should NOT invest in As I wrote here a long time ago, the problem is that the properties produce zero cash when strictly necessary maintenance is deducted (upgrade every 32nd year). An asset that does not produce cash is not worth very much, even though the company carries the book value at quite a lot. One of the big issues here is that due to Swedish market regulations, you get revenues that are far lower than market price, while costs are at market level. Not a fat deal. The point is: The values are below book value, so it depends on what you get back by realizing "values". I cannot see that buyers are standing in line.
·15.10.Reversal at 2.26. Did you manage to buy?
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |
2026 Q2 - tulosraportti
95 päivää sitten
‧38 min
1,20 SEK/osake
Viimeisin osinko
0,00%Tuotto/v
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·2 t sittenShort article about SBB: https://finance.yahoo.com/markets/stocks/articles/changed-sbb-since-58-fall-031844834.html
- ·3 t sittenI promise to write no more about this company and its subsidiaries. But since I have tangled myself up in some discussions far down in the threads below, I am writing one final post before I sign off. The last question I received, after I had pointed out that the companies fail to generate a positive cash flow, something one can also see from the annual reports, was whether I had forgotten that the net asset value in SBB is 8 kroner per share. The answer is no. I have not forgotten it. I am questioning it - and particularly what one actually means by "substans" (net asset value). First of all, it is at best debated that the net asset value in SBB is 8 SEK per share. Accounting-wise it is correct, as SBB owns more than 50 % of Sveafastigheter and therefore consolidates this company's assets and liabilities in its own balance sheet. In this way, the book values in Sveafastigheter are reflected in SBB's balance sheet. But please note the following: If this equity stake had instead been valued at market value, and SBB's values had been assessed as in an investment company, which at least now it is said that it is supposed to be, SBB's equity value would not have been higher than approximately today's share price, thus somewhat below 3 kroner per share. (See previous posts - I cannot be bothered to calculate this again.) When one nevertheless insists that the "net asset value" is 8 kroner, what does one actually mean by that? That the equity stake in Sveafastigheter etc in reality is worth far more than what the market is willing to pay? Clearly. Anyone can after all buy shares in Sveafastigheter, and the buyers are unfortunately not exactly standing in line. What are we then to believe? That the shares are "really" worth very much more than what anyone is actually willing to pay? But fine. Let us disregard the market price and take as a starting point that Sveafastigheter is mispriced. That is a discussion I am happy to participate in. But then we must at least agree that the real value theoretically can be both HIGHER and LOWER than today's market value. And precisely with this as a starting point I make my own valuation, based on a completely fundamental principle within finance: A company is worth the present value of the future cash flows it can generate. My point with the previous calculations is that this cash flow, after necessary maintenance investments and financing costs, in practice is ZERO. Then the book value of the properties can be as high as anyone likes. In my world, the real equity value of the company is not necessarily positive for that reason. For the sake of simplicity, I here take Sveafastigheter as my starting point: If the company fails to generate any real, lasting cash flow to the shareholders, it is hard to defend a high equity value, no matter what the properties are booked at. Sure, there seems to be a positive EPS on the bottom line. But in my assessment, this is largely due to the company's management choosing to capitalize a significant portion of the expenses related to maintenance, i.e., treating almost everything as investments, while only expensing a ridiculously low maintenance cost of just over 3.000 SEK per apartment per year. In my view, there is an obvious discrepancy between what the financial statements give the impression of, and the underlying economic realities. And just to be completely transparent to those of you who cling to the belief that this company has a golden future: I suggest you ask ChatGPT the following question and see what answer you get: "If Sveafastigheter, instead of spending close to zero on maintenance (just over 3.000 SEK per year per apartment), had spent just as much per m² on maintenance as comparable European real estate companies, as well as paid interest on all its financing corresponding to the interest rate on the most recently issued bond plus 0.3 percentage points to account for the latest interest rate hike in the market, how much would the annual EPS have been?" The answer: Negative EPS. And if one then asks what the cash generation will be, it does not exactly look very pretty. And it is precisely this that is the core of my argumentation: Book values are one thing. The ability to create real economic values for the shareholders is something entirely different. So with that; Thank you and good luck with the investments going forward. I have said my piece and will not comment on this company any further.
- ·15.10.Why not put an end to this eternal suffering, realize all of SBB, distribute everything to the shareholders and put an end to this misery. Then all those who want a real estate company can create a new one without this mess - history that SBB is burdened with!?Feel free to set up a list of the companies that want to pay cash book value for the properties in the subsidiaries... then I want to know which companies I should NOT invest in As I wrote here a long time ago, the problem is that the properties produce zero cash when strictly necessary maintenance is deducted (upgrade every 32nd year). An asset that does not produce cash is not worth very much, even though the company carries the book value at quite a lot. One of the big issues here is that due to Swedish market regulations, you get revenues that are far lower than market price, while costs are at market level. Not a fat deal. The point is: The values are below book value, so it depends on what you get back by realizing "values". I cannot see that buyers are standing in line.
- ·15.10.Reversal at 2.26. Did you manage to buy?
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 492 | - | - | ||
| 11 601 | - | - | ||
| 2 377 | - | - | ||
| 9 000 | - | - | ||
| 3 658 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 16.7. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 7.11.2025 | ||
2025 Q2 - tulosraportti 20.8.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |
2026 Q2 - tulosraportti
95 päivää sitten
‧38 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q3 - tulosraportti 24.11. |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q2 - tulosraportti 16.7. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 25.2. | ||
2025 Q3 - tulosraportti 7.11.2025 | ||
2025 Q2 - tulosraportti 20.8.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
1,20 SEK/osake
Viimeisin osinko
0,00%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·2 t sittenShort article about SBB: https://finance.yahoo.com/markets/stocks/articles/changed-sbb-since-58-fall-031844834.html
- ·3 t sittenI promise to write no more about this company and its subsidiaries. But since I have tangled myself up in some discussions far down in the threads below, I am writing one final post before I sign off. The last question I received, after I had pointed out that the companies fail to generate a positive cash flow, something one can also see from the annual reports, was whether I had forgotten that the net asset value in SBB is 8 kroner per share. The answer is no. I have not forgotten it. I am questioning it - and particularly what one actually means by "substans" (net asset value). First of all, it is at best debated that the net asset value in SBB is 8 SEK per share. Accounting-wise it is correct, as SBB owns more than 50 % of Sveafastigheter and therefore consolidates this company's assets and liabilities in its own balance sheet. In this way, the book values in Sveafastigheter are reflected in SBB's balance sheet. But please note the following: If this equity stake had instead been valued at market value, and SBB's values had been assessed as in an investment company, which at least now it is said that it is supposed to be, SBB's equity value would not have been higher than approximately today's share price, thus somewhat below 3 kroner per share. (See previous posts - I cannot be bothered to calculate this again.) When one nevertheless insists that the "net asset value" is 8 kroner, what does one actually mean by that? That the equity stake in Sveafastigheter etc in reality is worth far more than what the market is willing to pay? Clearly. Anyone can after all buy shares in Sveafastigheter, and the buyers are unfortunately not exactly standing in line. What are we then to believe? That the shares are "really" worth very much more than what anyone is actually willing to pay? But fine. Let us disregard the market price and take as a starting point that Sveafastigheter is mispriced. That is a discussion I am happy to participate in. But then we must at least agree that the real value theoretically can be both HIGHER and LOWER than today's market value. And precisely with this as a starting point I make my own valuation, based on a completely fundamental principle within finance: A company is worth the present value of the future cash flows it can generate. My point with the previous calculations is that this cash flow, after necessary maintenance investments and financing costs, in practice is ZERO. Then the book value of the properties can be as high as anyone likes. In my world, the real equity value of the company is not necessarily positive for that reason. For the sake of simplicity, I here take Sveafastigheter as my starting point: If the company fails to generate any real, lasting cash flow to the shareholders, it is hard to defend a high equity value, no matter what the properties are booked at. Sure, there seems to be a positive EPS on the bottom line. But in my assessment, this is largely due to the company's management choosing to capitalize a significant portion of the expenses related to maintenance, i.e., treating almost everything as investments, while only expensing a ridiculously low maintenance cost of just over 3.000 SEK per apartment per year. In my view, there is an obvious discrepancy between what the financial statements give the impression of, and the underlying economic realities. And just to be completely transparent to those of you who cling to the belief that this company has a golden future: I suggest you ask ChatGPT the following question and see what answer you get: "If Sveafastigheter, instead of spending close to zero on maintenance (just over 3.000 SEK per year per apartment), had spent just as much per m² on maintenance as comparable European real estate companies, as well as paid interest on all its financing corresponding to the interest rate on the most recently issued bond plus 0.3 percentage points to account for the latest interest rate hike in the market, how much would the annual EPS have been?" The answer: Negative EPS. And if one then asks what the cash generation will be, it does not exactly look very pretty. And it is precisely this that is the core of my argumentation: Book values are one thing. The ability to create real economic values for the shareholders is something entirely different. So with that; Thank you and good luck with the investments going forward. I have said my piece and will not comment on this company any further.
- ·15.10.Why not put an end to this eternal suffering, realize all of SBB, distribute everything to the shareholders and put an end to this misery. Then all those who want a real estate company can create a new one without this mess - history that SBB is burdened with!?Feel free to set up a list of the companies that want to pay cash book value for the properties in the subsidiaries... then I want to know which companies I should NOT invest in As I wrote here a long time ago, the problem is that the properties produce zero cash when strictly necessary maintenance is deducted (upgrade every 32nd year). An asset that does not produce cash is not worth very much, even though the company carries the book value at quite a lot. One of the big issues here is that due to Swedish market regulations, you get revenues that are far lower than market price, while costs are at market level. Not a fat deal. The point is: The values are below book value, so it depends on what you get back by realizing "values". I cannot see that buyers are standing in line.
- ·15.10.Reversal at 2.26. Did you manage to buy?
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 492 | - | - | ||
| 11 601 | - | - | ||
| 2 377 | - | - | ||
| 9 000 | - | - | ||
| 3 658 | - | - |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastot ja ETF:t, joilla on osaketta
Mikään rahasto ei ilmoita osaketta kymmenen suurimman omistuksensa joukossa.
Asiakkaat katsoivat myös
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 8 297 773 | 8 297 773 | 0 | 0 |