Catena CATE.ST
SwedenReal Estate · Real Estate - DiversifiedNasdaq Estocolmo · SEK
476.38 SEK (+39.4%)
8 analysts
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Catena AB is a Swedish REIT that owns and manages commercial properties, mainly warehouses and logistics, with a focus on the Nordic market.
Listed on Nasdaq Estocolmo · Symbol CATE.ST · STO: CATE · Currency SEK
Key points
from its scores- ✓Strong growth8.8
- ✕Little or no dividend2.9
- ✕Poor share-price trend3.2
- ✕Fragile balance sheet3.8
AI analysis
bottom line, main risk, context and newsExtreme leverage and sensitivity to rates make the risk outweigh the upside potential, despite recent growth.
Catena AB shows revenue growth of 25.5% and earnings growth of 164.4%, but its financial health is fragile with a Net Debt/EBITDA of 10.85 and an ROE of only 8.51%. Valuation appears cheap (P/B 0.83), but extreme leverage and the rising rate environment in Europe pose a significant risk to the sustainability of its growth and dividend.
The main risk is the high leverage (Net Debt/EBITDA of 10.85) in a rising rate environment, which could lead to refinancing problems and pressure on the dividend.
Context and risks
Catena AB is a Swedish REIT of commercial properties, with high leverage (Net Debt/EBITDA of 10.85) and a 52-week range position at the 2nd percentile, reflecting a sharp price decline. The rising interest rate environment in Europe (the ECB raised rates and the market prices another hike) directly pressures REITs, which depend on financing and whose valuation is sensitive to long rates. Additionally, the weakness of the Swedish real estate sector, with price declines and financing problems, adds refinancing risk in a context of monetary tightening.
Is Catena stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 48% below the Real Estate median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 10.0 | 21.6 | −54% |
| EV / EBITDA | 20.7 | 18.5 | +12% |
| Price / book | 0.8 | 1.4 | −42% |
| Price / sales | 7.9 | 6.3 | +26% |
Sector: median of the 100 Real Estate companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.0 out of 10 (median for Real Estate: 4.9).
Average analyst target: 476.38 SEK, +39.4% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 3.8 (sector 5.5), Growth 8.8 (sector 5.7).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Real Estate medianValuation
- P/E
- 10.0
- Forward P/E
- 13.4
- EV / EBITDA
- 20.7
- Price / book
- 0.8
- Price / sales
- 7.9
- PEG
- 9.17
- Market cap
- 22.7B SEK
- Enterprise value
- 47.8B SEK
Profitability
- ROE
- 8.5%
- ROA
- 2.8%
- ROIC (approx.)
- 4.6%
- Gross margin
- 82.8%
- Operating margin
- 84.9%
- Net margin
- 75.0%
- Free cash flow
- 1.4B SEK
- FCF yield
- 6.0%
- Cash conversion
- 59%
Solvency
- Total debt
- 25.5B SEK
- Net debt
- 25.1B SEK
- Cash
- 379.0M SEK
- EBITDA
- 2.3B SEK
- Net debt / EBITDA
- 10.85
- Debt / equity
- 93.09
- Current ratio
- 0.11
- Quick ratio
- 0.11
Growth
- Revenue growth
- +25.5%
- Earnings growth
- +164.4%
- EPS (TTM)
- 34.04 SEK
- EPS (forward)
- 25.57 SEK
Dividend
- Dividend yield
- 2.8%
- Payout
- 27.2%
Risk and market
- Beta
- 1.22
- Analyst consensus
- Buy (8)
- Target price
- 476.38 SEK
- 52-week range
- 339.00 – 503.00
Recent news
All CATE.ST news →Compare it with its sector
All 100 in Real Estate →Frequently asked questions about Catena
Is Catena stock cheap or expensive?
On P/E and Price / book, it trades 48% below the Real Estate median on average. Valuation score: 6.0 out of 10 (median for Real Estate: 4.9). Average analyst target: 476.38 SEK, +39.4% versus the price. This is not investment advice.
What score does Catena get on MeridIAn Screener?
It scores 4.7 out of 10, rank 1,806 of 2,130 (better than 14% of the companies analysed). Its strongest category is Growth (8.8) and its weakest, Dividend (2.9). Analysis of 08/10/2026.
What is Catena's P/E ratio?
Its P/E is 10.0: the share price equals 10.0 times earnings per share over the last 12 months. The Real Estate median is 21.6. Based on the earnings analysts expect, the forward P/E is 13.4.
How much is Catena worth on the stock market?
Its market capitalisation is 22.7B SEK.
Does Catena pay a dividend?
Yes: its dividend yield is 2.78% and it pays out 27% of its earnings.
How has Catena stock performed over the last year?
It has fallen 20.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 339.00 and 503.00 SEK. Past performance does not guarantee future results.
What do analysts think of Catena?
8 analysts cover it; their average recommendation is “Buy” and their average target is 476.38 SEK (+39.4% versus the price). It is an estimate, not market data.