User

Heba Fastighets AB (publ)

HEBA-B.ST

Real Estate - Services · Real Estate

Price

kr 24.45

+0.10 (+0.41%)

Market Cap

kr 3.79B

Exchange

Stockholm Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Winston Score between 40 and 70. The stock passes some quality checks but not all.

Heba Fastighets AB is a Swedish real estate company that owns and manages residential apartment buildings. Its main product is rental housing, and its customers are ordinary people who pay monthly rent to live in its apartments. The company operates almost entirely in the Stockholm region of Sweden, one of Europe's most supply-constrained housing markets.

Heba makes money by collecting rent from tenants, a steady and recurring revenue stream. With a gross margin above 70%, the business is efficient at converting rent into profit, though its low ROIC of around 2% reflects the capital-heavy nature of owning physical property. Sweden's regulated rental market provides stability but also limits how much Heba can raise rents, and rising interest rates are a key risk since property companies carry significant debt to finance their portfolios.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+118.7% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

62.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$40M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Heba Fastighets AB (publ) is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

70.4%

Premium pricing power — 70.4% gross margin

Operating Margin

64.4%

Excellent — 64.4% operating margin

ROCE

0.8%

Weak — 0.8% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+6.0%

Slow sales growth (6.0% YoY)

EPS YoY

+87.2%

Earnings growing fast (87.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

86%

Modest — 86% of profit becomes cash

FCF Margin

28.3%

Converts sales into free cash efficiently (28.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

1.07

Elevated debt (1.07)

Interest Cover

3.00x

Tight — interest eats into profit (3.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio

15.1x

Fair value — P/E 15.1

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

-0.0

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

2.28%

Moderate income — 2.28% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-81.5%

Dividend cut (-81.5% YoY) — warning sign

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