Nordea Bank Abp

BATS-CHIXE:NDAH Stock Report

Market Cap: €37.9b

Nordea Bank Abp Valuation

Is NDAH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NDAH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NDAH (€10.8) is trading below our estimate of fair value (€13.39)

Significantly Below Fair Value: NDAH is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NDAH?

Key metric: As NDAH is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NDAH. This is calculated by dividing NDAH's market cap by their current earnings.
What is NDAH's PE Ratio?
PE Ratio7.6x
Earnings€5.01b
Market Cap€37.87b

Price to Earnings Ratio vs Peers

How does NDAH's PE Ratio compare to its peers?

The above table shows the PE ratio for NDAH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
NWG NatWest Group
7.1x0.3%UK£31.8b
LLOY Lloyds Banking Group
7.5x4.2%UK£34.0b
STAN Standard Chartered
7.2x5.1%UK£22.9b
BARC Barclays
8.7x10.7%UK£37.7b
NDAH Nordea Bank Abp
7.6x-4.2%€37.9b

Price-To-Earnings vs Peers: NDAH is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (7.7x).

Price to Earnings Ratio vs Industry

How does NDAH's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NDAH is expensive based on its Price-To-Earnings Ratio (7.6x) compared to the European Banks industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is NDAH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NDAH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NDAH's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NDAH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€12.74
0%
10.0%€15.00€11.10n/a5
Nov ’25€10.98
€12.74
+16.1%
9.9%€15.00€11.10n/a5
Oct ’25€10.51
€12.98
+23.5%
11.7%€15.10€11.10n/a6
Sep ’25€10.61
€12.66
+19.4%
10.6%€15.10€11.10n/a5
Aug ’25n/a
€12.66
0%
10.6%€15.10€11.10n/a5
Jul ’25n/a
€13.04
0%
10.9%€15.10€10.80n/a5
Jun ’25n/a
€13.08
0%
10.7%€15.10€10.80n/a5
May ’25€10.88
€12.76
+17.3%
8.3%€13.78€10.80n/a5
Apr ’25€10.42
€12.30
+18.0%
8.3%€13.60€10.80n/a4
Mar ’25n/a
€12.67
0%
9.5%€14.60€10.80n/a6
Feb ’25€11.52
€12.60
+9.4%
10.5%€14.60€10.50n/a6
Jan ’25€11.31
€12.70
+12.3%
10.8%€14.60€10.50n/a6
Dec ’24€10.33
€12.70
+22.9%
10.8%€14.60€10.50n/a6
Nov ’24€9.90
€12.70
+28.2%
10.8%€14.60€10.50€10.986
Oct ’24€10.29
€12.64
+22.8%
10.0%€14.30€10.50€10.515
Sep ’24n/a
€11.97
0%
15.2%€14.30€8.37€10.617
Aug ’24€10.24
€11.97
+16.9%
15.2%€14.30€8.37n/a7
Jul ’24€9.81
€11.91
+21.4%
14.8%€14.00€8.37n/a7
Jun ’24€9.39
€11.91
+26.8%
14.8%€14.00€8.37n/a7
May ’24€10.11
€11.95
+18.2%
15.3%€14.00€8.37€10.887
Apr ’24€9.85
€11.81
+19.9%
15.0%€14.00€8.37€10.427
Mar ’24€12.09
€11.60
-4.1%
14.3%€13.60€8.37n/a7
Feb ’24€10.84
€10.94
+0.9%
12.6%€13.00€8.37€11.527
Jan ’24€10.04
€10.70
+6.6%
10.7%€12.20€8.37€11.317
Dec ’23€10.00
€10.70
+7.0%
10.7%€12.20€8.37€10.337
Nov ’23€9.66
€10.41
+7.7%
12.2%€12.50€8.37€9.907

Analyst Forecast: Target price is less than 20% higher than the current share price.

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