olivLaw · European equity research
Reitir fasteignafélag hf. REITIR.IC
Iceland · Nasdaq Iceland · ISIN IS0000020352 · Vertical: Listed companies from Iceland
At the close of 03 Nov 2026, Reitir fasteignafélag hf. (REITIR.IC) stock was 110.00 ISK (−1.79% on the day), with market capitalisation 76.2 bn ISK, P/E 6.9 on diluted EPS of 16.00 ISK over the last 12 months, dividend yield 3.37%, beta 0.19, 52-week range 108.00–131.00 ISK.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 41.8
- weak (30–45)
- Bollinger (20, 2)
- 108.80 – 114.70
- in the lower half of the band · %B 0.20 · band width 5.3%
- SMA 50 / 200
- 113.30 / 118.59
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.32 / -0.29
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −1.8% | −1.0% | −0.8 pp | — |
| 3 months | −3.5% | −3.9% | +0.4 pp | — |
| 6 months | −3.5% | +7.2% | −10.7 pp | — |
| Year to date | −14.7% | +6.6% | −21.3 pp | — |
| 1 year | −10.2% | +9.1% | −19.3 pp | −9.0% |
| 3 years | +42.9% | +47.9% | −5.1 pp | +13.1% |
| 5 years | +30.2% | +43.3% | −13.1 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 33 percentile of its own 3-quarter history (min 5.4, median 8.1, max 8.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 7.5 bn | 15.3 bn | 11.1 bn |
| Net income YoY | unavailable | +103.4% | −27.4% |
| Diluted EPS | 10.20 | 21.60 | 16.00 |
| Diluted EPS YoY | unavailable | +111.8% | −25.9% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 964.0 m ISK
- Financial debt
- 132.1 bn ISK
- Net debt
- 131.1 bn ISK
- Equity
- 79.1 bn ISK
- Total assets
- 256.1 bn ISK
- Debt / equity
- 1.67x
- Current ratio
- 0.24x
- ROE
- 14.6%
- ROA
- 4.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (ISK)
Income statement · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating income | 20.9 bn | 28.8 bn | 23.7 bn | esef· 17 Feb 2026verified |
| Interest expense | 11.1 bn | 9.5 bn | 9.9 bn | esef· 17 Feb 2026verified |
| Pre-tax income | 10.1 bn | 19.6 bn | 14.1 bn | esef· 17 Feb 2026verified |
| Income tax | 2.5 bn | 4.3 bn | 3.0 bn | esef· 17 Feb 2026verified |
| Net income | 7.5 bn | 15.3 bn | 11.1 bn | esef· 17 Feb 2026verified |
| Diluted EPS | 10.20 | 21.60 | 16.00 | esef· 17 Feb 2026verified |
| Dividend per share | 1.91 | 2.06 | 3.70 | esef· 17 Feb 2026derived |
Balance sheet · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.3 bn | 2.2 bn | 964.0 m | esef· 17 Feb 2026verified |
| Current assets | 3.2 bn | 4.7 bn | 3.3 bn | esef· 17 Feb 2026verified |
| Property, plant & equipment, net | 223.0 m | 283.0 m | 554.0 m | esef· 17 Feb 2026verified |
| Total assets | 193.4 bn | 231.4 bn | 256.1 bn | esef· 17 Feb 2026verified |
| Long-term debt | 98.4 bn | 123.0 bn | 132.1 bn | esef· 17 Feb 2026verified |
| Current liabilities | 11.9 bn | 8.3 bn | 13.9 bn | esef· 17 Feb 2026verified |
| Total liabilities | 133.1 bn | 158.9 bn | 177.0 bn | esef· 17 Feb 2026verified |
| Equity | 60.3 bn | 72.4 bn | 79.1 bn | esef· 17 Feb 2026verified |
| Shares outstanding at year end | 735.7 m | 706.8 m | 692.7 m | esef· 17 Feb 2026derived |
Cash flow · ISK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 7.0 bn | 7.0 bn | 7.7 bn | esef· 17 Feb 2026verified |
| Investing cash flow | -6.4 bn | -17.1 bn | -13.0 bn | esef· 17 Feb 2026verified |
| Financing cash flow | 598.0 m | 10.9 bn | 4.0 bn | esef· 17 Feb 2026verified |
| Dividends paid | 1.4 bn | 1.5 bn | 2.6 bn | esef· 17 Feb 2026verified |
| Share repurchases | 1.9 bn | 1.7 bn | 1.9 bn | esef· 17 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 76.2 bn ISK
Key indicators
Coverage and freshness
Score by group
38% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 9.3% | 63 (vs peers) | 28% |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.4x | 14 (on a fixed band) | 17% |
| Current ratio · Balance sheet | 0.2x | 0 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | 6.9x | 100 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 5.8% | 83 (on a fixed band) | 17% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet8/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial63/100 · 1/3 factors with a value
- Returns· partial83/100 · 1/2 factors with a value
- Valuation· partial100/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Reitir fasteignafélag hf. (REITIR.IC). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: ROE 14.6%.
The estimated value range is 268.31–315.82 ISK per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 274.80 ISK, the price of 110.00 ISK leaves a potential of 149.8% (value / price − 1) and a margin of safety of 60.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 6.9x
- Shareholder yield (distributions): 5.8%
- The price is below the estimated value range
What contradicts it
- Interest coverage: 2.4x
- Current ratio: 0.2x
Not assessed (insufficient data or a ratio without meaning): Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Iceland · same country · compared with 11 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HAGA.ICHagar hf. | 128.4 bn | 19.7 | 18.2% | 3.8% | +9.3% | +4% / +76% |
| FESTI.ICFesti hf. | 89.7 bn | 22.5 | 10.1% | 2.6% | +13.4% | −9% / +65% |
| HEIMAR.ICHeimar hf. | 61.6 bn | 7.5 | 13.5% | 55.5% | +7.7% | −5% / +50% |
| BERA.ICÖlgerðin Egill Skallagríms hf. | 36.8 bn | 17.2 | 13.7% | 5.9% | +7.7% | −24% / −0% |
| NOVA.ICNova Klúbburinn hf | 12.0 bn | 14.8 | 8.5% | 6.1% | +2.8% | −26% / −16% |
| ALVO.ICAlvotech | — | — | — | 9.0% | +43.4% | −13% / −58% |
| ASAR.ICSíminn hf. | — | 16.8 | — | — | +3.0% | −22% / +22% |
| BRIM.ICBrim hf. | — | — | 11.9% | 14.6% | +5.2% | +19% / +13% |
| EIK.ICEik Fasteignafélag Hf. | — | — | 10.2% | 43.6% | +9.5% | −2% / +19% |
| EIM.ICEimskipafélag Íslands hf. | — | — | 3.2% | 1.2% | −4.7% | +7% / −35% |
| HAMP.ICHampiðjan hf | — | — | 1.7% | 1.2% | +15.7% | −25% / −36% |
1- and 3-year price returns: for REITIR.IC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202517 Feb 2026
- Annual report 202517 Feb 2026
- Annual report 202415 Apr 2025
- Annual report 202415 Apr 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.