Selvaag Bolig ASA
Selvaag Bolig ASA develops and operates real estate properties in Norway, generating revenue primarily through property sales and rental income.
Business. Selvaag Bolig ASA (SBOS.OL) is a real estate company engaged in rental, development, and operations activities. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding operating segments and geographic revenue mix are not available.
Analyst recommendations
3 analysts · consensus BuyAt a glance
What drives this business
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Selvaag Bolig ASA (SBOS.OL) is a real estate company engaged in rental, development, and operations activities. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding operating segments and geographic revenue mix are not available.
Selvaag Bolig maintains a debt-to-equity ratio of 0.51, indicating a relatively conservative capital structure. The company's liquidity position is characterized as medium risk, with a current ratio of 3.4, suggesting it can cover short-term obligations but with limited excess capacity. Free cash flow of 54.99 million NOK supports operational flexibility, though capital expenditures of -3.21 million NOK indicate minimal reinvestment in the period.
Profitability metrics show a return on equity of 2.37% and a return on assets of 1.24%, both below the industry median for real estate developers. Operating income of 65.60 million NOK and net income of 55.91 million NOK reflect a gross margin of 17.82%, which is in line with the sector average. However, the company's net cash position is negative after subtracting total debt, signaling potential refinancing risks.
The company's revenue is concentrated in Norway, with no disclosed international operations, and no segment breakdown is available in the latest financials. This geographic concentration exposes the company to local economic and regulatory conditions, which could affect future performance.
Outlook data is not available for Selvaag Bolig, but historical revenue growth has been modest, with a total revenue of 627.74 million NOK in the latest period. Analysts have assigned a mean price target of 38.33 NOK, with a median of 37.00 NOK, and a mean recommendation of 2.33, indicating a cautious outlook.
Risk factors include liquidity constraints and the potential for refinancing challenges due to the negative net cash position. Dilution risk is assessed as low, with no significant changes in shares outstanding between basic and diluted figures. No recent events or filings have been disclosed that would materially impact the company's operations or valuation.
Analyst estimates suggest a mixed outlook, with one strong-buy recommendation and two hold ratings, but no buy recommendations. The company's performance is closely tied to the Norwegian real estate market, and any downturn could affect its ability to maintain current profitability levels.
- Selvaag Bolig has a conservative capital structure with a debt-to-equity ratio of 0.51.
- The company's return on equity of 2.37% is below the industry median for real estate developers.
- Revenue is concentrated in Norway, exposing the company to local economic and regulatory conditions.
- Analysts have a cautious outlook, with a mean price target of 38.33 NOK and a mean recommendation of 2.33.
- The company faces liquidity constraints and potential refinancing challenges due to a negative net cash position.
Bull / Bear case
Generated · model-assistedAnalysts project 14.1% upside to a mean price target of 38.33 NOK, reflecting a consensus buy recommendation.
Return on equity of 2.37% outperforms the 1.94% median benchmark for the real estate sector.
Cash conversion of 2.63 places the company in the top quartile above the 0.29 cohort median.
Debt-to-equity ratio of 0.51 is slightly better than the 0.52 median for the real estate cohort.
The company faces high credit risk and medium liquidity risk according to internal risk flag assessments.
In focus — financials by report
Revenue kr 1.09B, +119,0% YoY; Operating income +180,2% YoY.
- ▍Revenue kr 1.09B, +119,0% YoY
- ▍Operating income +180,2% YoY
- ▍Net income +177,0% YoY
- ▍Free cash flow +165,8% YoY
- ▍Net margin 11.8%
Revenue kr 567.5M, +152,2% YoY; Operating income +308,5% YoY.
- ▍Revenue kr 567.5M, +152,2% YoY
- ▍Operating income +308,5% YoY
- ▍Net income +568,0% YoY
- ▍Free cash flow +790,4% YoY
- ▍Net margin 4.1%
Revenue kr 261.4M, −57,9% YoY; Operating income −104,0% YoY.
- ▍Revenue kr 261.4M, −57,9% YoY
- ▍Operating income −104,0% YoY
- ▍Net income −98,0% YoY
- ▍Free cash flow −826,5% YoY
- ▍Net margin 0.6%
Revenue kr 167.0M, −73,4% YoY; Operating income −148,1% YoY.
- ▍Revenue kr 167.0M, −73,4% YoY
- ▍Operating income −148,1% YoY
- ▍Net income −137,6% YoY
- ▍Free cash flow −135,4% YoY
- ▍Net margin -12.6%
Revenue kr 498.1M; Operating income kr 48.6M.
- ▍Revenue kr 498.1M
- ▍Operating income kr 48.6M
- ▍Net margin 9.4%
Revenue kr 225.0M; Operating income -kr 12.5M.
- ▍Revenue kr 225.0M
- ▍Operating income -kr 12.5M
- ▍Net margin -2.2%
Revenue kr 620.2M; Operating income kr 96.6M.
- ▍Revenue kr 620.2M
- ▍Operating income kr 96.6M
- ▍Net margin 12.8%
Revenue kr 627.7M; Operating income kr 65.6M.
- ▍Revenue kr 627.7M
- ▍Operating income kr 65.6M
- ▍Net margin 8.9%
Revenue kr 2.09B, +5,9% YoY; Operating income −36,1% YoY.
- ▍Revenue kr 2.09B, +5,9% YoY
- ▍Operating income −36,1% YoY
- ▍Net income −24,9% YoY
- ▍Free cash flow −77,3% YoY
- ▍Net margin 6.4%
Revenue kr 1.97B, −39,4% YoY; Operating income −34,1% YoY.
- ▍Revenue kr 1.97B, −39,4% YoY
- ▍Operating income −34,1% YoY
- ▍Net income −27,7% YoY
- ▍Free cash flow +386,9% YoY
- ▍Net margin 9.0%
Revenue kr 3.25B, +12,4% YoY; Operating income −28,8% YoY.
- ▍Revenue kr 3.25B, +12,4% YoY
- ▍Operating income −28,8% YoY
- ▍Net income −27,8% YoY
- ▍Free cash flow +74,2% YoY
- ▍Net margin 7.5%
Revenue kr 2.90B, −14,9% YoY; Operating income −34,9% YoY.
- ▍Revenue kr 2.90B, −14,9% YoY
- ▍Operating income −34,9% YoY
- ▍Net income −32,9% YoY
- ▍Free cash flow −357,7% YoY
- ▍Net margin 11.7%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 3,59 |
| Revenue | —no estimate | —no estimate | 4,2B NOK |
| Operating income | —no estimate | —no estimate | 428,0M NOK |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
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- Consensus estimates
- ESG data
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- Selvaag Bolig ASA Market data — financials · 2026-05-29
- Selvaag Bolig ASA Market data — analyst estimates · 2026-05-29
- Selvaag Bolig ASA Market data — ESG · 2026-05-29
Ownership & reference
Leadership
- Sverre MolvikCEO
Insider activity
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Current ratio (FY 2024-12-31): 1.50xDerived (calculated)
- Debt-to-equity (FY 2024-12-31): 0.58xDerived (calculated)
- Net margin (FY 2024-12-31): 77.9%Derived (calculated)
- Return on equity (FY 2024-12-31): 3.3%Derived (calculated)
- Return on assets (FY 2024-12-31): 2.1%Derived (calculated)
- Non current assets (annual): NOK 2.62BBRREG filing
- Current liabilities (annual): NOK 319.57MBRREG filing
- Total liabilities (annual): NOK 1.13BBRREG filing
- Shareholders' equity (annual): NOK 1.96BBRREG filing
- Non current liabilities (annual): NOK 812.71MBRREG filing
- Total equity & liabilities (annual): NOK 3.1BBRREG filing
- Current assets (annual): NOK 480.1MBRREG filing
- Total assets (annual): NOK 3.1BBRREG filing
- Finance expense (annual): NOK 174.54MBRREG filing
- Total operating expenses (annual): NOK 206.49MBRREG filing
- Revenue (annual): NOK 83.01MBRREG filing
- Operating income (annual): NOK -123.48MBRREG filing
- Pre-tax income (annual): NOK 112.89MBRREG filing
- Net income (annual): NOK 64.65MBRREG filing