DB:SEBC

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Skandinaviska Enskilda Banken AB (publ.)

Executive Summary

Skandinaviska Enskilda Banken AB (publ.) provides corporate, retail, investment, and private banking services in Sweden and internationally.


Snowflake Analysis

Undervalued with mediocre balance sheet.


Similar Companies

Share Price & News

How has Skandinaviska Enskilda Banken AB (publ.)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SEBC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.3%

SEBC

3.6%

DE Banks

5.0%

DE Market


1 Year Return

5.6%

SEBC

-20.3%

DE Banks

4.1%

DE Market

Return vs Industry: SEBC exceeded the German Banks industry which returned -20.3% over the past year.

Return vs Market: SEBC exceeded the German Market which returned 4.1% over the past year.


Shareholder returns

SEBCIndustryMarket
7 Day4.3%3.6%5.0%
30 Day12.7%17.6%13.8%
90 Day-5.0%-7.9%3.3%
1 Year5.6%5.6%-19.7%-20.3%5.8%4.1%
3 Year-7.3%-18.3%-40.1%-42.8%-0.9%-8.5%
5 Year1.4%-20.0%-35.8%-48.3%10.5%-3.6%

Price Volatility Vs. Market

How volatile is Skandinaviska Enskilda Banken AB (publ.)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Skandinaviska Enskilda Banken AB (publ.) undervalued compared to its fair value and its price relative to the market?

20.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SEBC (€8.49) is trading below our estimate of fair value (€10.63)

Significantly Below Fair Value: SEBC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SEBC is good value based on its PE Ratio (10.4x) compared to the Banks industry average (19.3x).

PE vs Market: SEBC is good value based on its PE Ratio (10.4x) compared to the German market (20.1x).


Price to Earnings Growth Ratio

PEG Ratio: SEBC is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: SEBC is overvalued based on its PB Ratio (1.2x) compared to the DE Banks industry average (0.9x).


Next Steps

Future Growth

How is Skandinaviska Enskilda Banken AB (publ.) forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

10.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SEBC's forecast earnings growth (10.6% per year) is above the savings rate (0.2%).

Earnings vs Market: SEBC's earnings (10.6% per year) are forecast to grow slower than the German market (22.7% per year).

High Growth Earnings: SEBC's earnings are forecast to grow, but not significantly.

Revenue vs Market: SEBC's revenue (3.6% per year) is forecast to grow slower than the German market (5.7% per year).

High Growth Revenue: SEBC's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SEBC's Return on Equity is forecast to be low in 3 years time (11.5%).


Next Steps

Past Performance

How has Skandinaviska Enskilda Banken AB (publ.) performed over the past 5 years?

6.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SEBC has a high level of non-cash earnings.

Growing Profit Margin: SEBC's current net profit margins (39.7%) are lower than last year (52.2%).


Past Earnings Growth Analysis

Earnings Trend: SEBC's earnings have grown by 6.8% per year over the past 5 years.

Accelerating Growth: SEBC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SEBC had negative earnings growth (-24.9%) over the past year, making it difficult to compare to the Banks industry average (4%).


Return on Equity

High ROE: SEBC's Return on Equity (11.4%) is considered low.


Next Steps

Financial Health

How is Skandinaviska Enskilda Banken AB (publ.)'s financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SEBC's Assets to Equity ratio (20.9x) is very high.

Allowance for Bad Loans: Insufficient data to determine if SEBC has a sufficient allowance for bad loans.

Low Risk Liabilities: 52% of SEBC's liabilities are made up of primarily higher risk sources of funding.

Loan Level: SEBC has an appropriate level of Loans to Assets ratio (55%).

Low Risk Deposits: SEBC's Loans to Deposits ratio (120%) is appropriate.

Level of Bad Loans: SEBC has an appropriate level of bad loans (0.7%).


Next Steps

Dividend

What is Skandinaviska Enskilda Banken AB (publ.)'s current dividend yield, its reliability and sustainability?

5.44%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SEBC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SEBC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SEBC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SEBC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: SEBC is not paying a notable dividend for the German market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SEBC's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Johan Torgeby (45yo)

3.25yrs

Tenure

kr19,423,000

Compensation

Mr. Johan Torgeby has been the Chief Executive Officer and President at Skandinaviska Enskilda Banken AB (publ) since March 29, 2017. Mr. Torgeby served as Co-Head of Division Large Corporates & Financial  ...


CEO Compensation Analysis

Compensation vs Market: Johan's total compensation ($USD2.10M) is below average for companies of similar size in the German market ($USD4.74M).

Compensation vs Earnings: Johan's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Johan Torgeby
President3.25yrskr19.42m0.00027% SEK48.8k
Masih Yazdi
Group Chief Financial Officer0.42yrno data0.00049% SEK88.6k
Ainar Leppänen
Head of Retail & Banking Technology and Member of Management Board4.08yrsno datano data
Ausra Matuseviciene
Head of Operations5.42yrsno data0.00047% SEK85.0k
Javiera Ragnartz
Head of Investment Management Division1.42yrsno datano data
John Abrahamson
Head of Corporate Finance Unit15yrsno datano data
Petra Ålund
Head of Group Technology1.17yrsno data0.00017% SEK30.7k
Nicolas Moch
Chief Information Officer2.42yrsno data0.00011% SEK19.9k
Christoffer Geijer
Head of Investor Relations2.17yrsno datano data
Gent Jansson
Head of Group Complianceno datano datano data

2.4yrs

Average Tenure

47yo

Average Age

Experienced Management: SEBC's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Johan Torgeby
President3.25yrskr19.42m0.00027% SEK48.8k
Winnie Fok
Independent Director7.25yrskr1.01m0.00014% SEK25.3k
Marcus Wallenberg
Independent Chairman of the Board15.17yrskr3.94m0.035% SEK6.3m
Sven Nyman
Independent Vice Chairman of the Board3.25yrskr980.00k0.00049% SEK88.6k
Johan Andresen
Independent Director9.25yrskr740.00k0.0046% SEK835.3k
Helena Saxon
Independent Director4.25yrskr1.17m0.00058% SEK104.9k
Signhild Hansen
Independent Director10.08yrskr1.13m0.00025% SEK45.2k
Jesper Ovesen
Independent Vice Chairman of the Board6.25yrskr1.85m0.0011% SEK207.9k
Samir Brikho
Independent Director7.25yrskr1.12mno data
Håkan Westerberg
Director5.42yrsno data0.00020% SEK36.2k

6.8yrs

Average Tenure

59.5yo

Average Age

Experienced Board: SEBC's board of directors are considered experienced (6.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Skandinaviska Enskilda Banken AB (publ.)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Skandinaviska Enskilda Banken AB (publ.)
  • Ticker: SEBC
  • Exchange: DB
  • Founded: 1856
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr188.169b
  • Listing Market Cap: kr18.080b
  • Shares outstanding: 2.17b
  • Website: https://sebgroup.com

Number of Employees


Location

  • Skandinaviska Enskilda Banken AB (publ.)
  • Kungsträdgårdsgatan 8
  • Stockholm
  • Stockholm County
  • 106 40
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SVKE.FOTCPK (Pink Sheets LLC)YesSeries A SharesUSUSDJan 1980
SEB AOM (OMX Nordic Exchange Stockholm)YesSeries A SharesSESEKJan 1980
SEBADB (Deutsche Boerse AG)YesSeries A SharesDEEURJan 1980
0HBYLSE (London Stock Exchange)YesSeries A SharesGBSEKJan 1980
SEBASBATS-CHIXE (BATS 'Chi-X Europe')YesSeries A SharesGBSEKJan 1980
SEB COM (OMX Nordic Exchange Stockholm)Series C SharesSESEKAug 1992
SEBCDB (Deutsche Boerse AG)Series C SharesDEEURAug 1992
0GUXLSE (London Stock Exchange)Series C SharesGBSEKAug 1992
SEBCSBATS-CHIXE (BATS 'Chi-X Europe')Series C SharesGBSEKAug 1992
SKVK.YOTCPK (Pink Sheets LLC)SPONADR REPSHS AUSUSDNov 2013

Biography

Skandinaviska Enskilda Banken AB (publ.) provides corporate, retail, investment, and private banking services in Sweden and internationally. It operates through Large Corporates & Financial Institutions, Corporate & Private Customers, Baltic, Life, and Investment Management and Group Functions segments. The company offers research services; analysis, advisory, execution, and trading services in the foreign exchange, fixed income, equities, and commodities markets; transaction services, including cash management, trade and supply chain financing, custody, asset servicing, and fund services; and investor services. It also provides investment banking services, such as corporate finance advisory services related to acquisitions, divestments, and mergers; equity capital market services related to initial public offerings, rights issues, and placings; and debt financing services comprising corporate loan origination, debt capital markets, leveraged finance, and structured finance services, as well as real estate and shipping finance services. In addition, the company offers venture capital for entrepreneurs and innovators; asset management products that include alternative, equity, fixed income, investment, and private equity solutions; and pensions, life insurance, health care insurance, and disability insurance. It serves large corporations and institutions, private customers, and small and medium-sized corporates. The company offers its services through 184 branch offices. Skandinaviska Enskilda Banken AB (publ.) was founded in 1856 and is headquartered in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 21:16
End of Day Share Price2020/06/04 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.