Swedbank AB (publ)

BATS-CHIXE:SWEDAS Stock Report

Market Cap: SEK 244.6b

Swedbank Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 SWEDAS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SWEDAS (SEK217.4) is trading below our estimate of fair value (SEK508.74)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SWEDAS. This is calculated by dividing SWEDAS's market cap by their current earnings.
What is SWEDAS's PE Ratio?
PE Ratio7x
EarningsSEK 34.72b
Market CapSEK 244.64b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SWEDAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.9x
STAN Standard Chartered
7.6x5.2%UK£24.1b
NWG NatWest Group
7.3x1.0%UK£32.4b
LLOY Lloyds Banking Group
7.5x4.2%UK£33.2b
BARC Barclays
9.1x10.9%UK£38.4b
SWEDAS Swedbank
7x-8.8%SEK 244.6b

Price-To-Earnings vs Peers: SWEDAS is good value based on its Price-To-Earnings Ratio (7x) compared to the peer average (7.9x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies40PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SWEDAS is good value based on its Price-To-Earnings Ratio (7x) compared to the European Banks industry average (7.6x).

Price to Earnings Ratio vs Fair Ratio

What is SWEDAS'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.

SWEDAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SWEDAS'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 SWEDAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 217.40
SEK 237.38
+9.2%
7.5%SEK 271.00SEK 199.00n/a16
Dec ’25SEK 211.90
SEK 238.75
+12.7%
6.8%SEK 271.00SEK 214.00n/a16
Nov ’25SEK 217.25
SEK 237.92
+9.5%
6.5%SEK 264.00SEK 215.00n/a16
Oct ’25SEK 216.90
SEK 237.09
+9.3%
6.7%SEK 264.00SEK 200.00n/a17
Sep ’25n/a
SEK 236.53
0%
6.6%SEK 256.52SEK 200.00n/a16
Aug ’25SEK 226.40
SEK 239.10
+5.6%
7.0%SEK 267.00SEK 200.00n/a16
Jul ’25SEK 217.40
SEK 234.40
+7.8%
7.4%SEK 260.00SEK 195.00n/a15
Jun ’25n/a
SEK 235.80
0%
8.0%SEK 265.00SEK 195.00n/a15
May ’25SEK 209.45
SEK 236.20
+12.8%
8.3%SEK 270.00SEK 195.00n/a15
Apr ’25n/a
SEK 237.00
0%
9.0%SEK 276.00SEK 195.00n/a15
Mar ’25n/a
SEK 235.95
0%
9.8%SEK 276.00SEK 190.00n/a19
Feb ’25SEK 212.40
SEK 233.72
+10.0%
11.0%SEK 276.00SEK 190.00n/a18
Jan ’25n/a
SEK 235.72
0%
11.8%SEK 287.00SEK 190.00n/a18
Dec ’24SEK 194.75
SEK 234.78
+20.6%
12.1%SEK 287.00SEK 185.00SEK 211.9018
Nov ’24SEK 180.98
SEK 233.84
+29.2%
11.9%SEK 287.00SEK 185.00SEK 217.2519
Oct ’24SEK 202.55
SEK 237.28
+17.1%
11.9%SEK 280.00SEK 185.00SEK 216.9018
Sep ’24SEK 190.58
SEK 236.50
+24.1%
11.3%SEK 280.00SEK 185.00n/a20
Aug ’24SEK 192.35
SEK 235.60
+22.5%
11.8%SEK 280.00SEK 175.00SEK 226.4020
Jul ’24SEK 182.00
SEK 228.65
+25.6%
12.8%SEK 275.00SEK 170.00SEK 217.4020
Jun ’24SEK 170.43
SEK 226.55
+32.9%
13.4%SEK 275.00SEK 170.00n/a20
May ’24SEK 177.40
SEK 229.35
+29.3%
12.9%SEK 275.00SEK 170.00SEK 209.4520
Apr ’24SEK 169.60
SEK 229.55
+35.3%
13.6%SEK 285.00SEK 170.00n/a20
Mar ’24SEK 213.10
SEK 228.95
+7.4%
13.7%SEK 285.00SEK 170.00n/a20
Feb ’24SEK 205.15
SEK 223.30
+8.8%
12.9%SEK 265.00SEK 170.00SEK 212.4020
Jan ’24n/a
SEK 207.35
0%
12.5%SEK 255.00SEK 170.00n/a20
Dec ’23SEK 168.10
SEK 205.10
+22.0%
12.1%SEK 255.00SEK 170.00SEK 194.7520

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/18 14:05
End of Day Share Price 2024/12/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Swedbank AB (publ) is covered by 46 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Magnus AnderssonABG Sundal Collier
Pierre-Yves GauthierAlphaValue
Fridtjof BerentsArctic Securities ASA