LSE:0GUX

Stock Analysis Report

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

6 star dividend payer and fair value.


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: 0GUX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

0GUX

-14.8%

GB Banks

-2.2%

GB Market


1 Year Return

-11.2%

0GUX

-45.4%

GB Banks

-25.9%

GB Market

Return vs Industry: 0GUX exceeded the UK Banks industry which returned -44% over the past year.

Return vs Market: 0GUX exceeded the UK Market which returned -25% over the past year.


Shareholder returns

0GUXIndustryMarket
7 Day0%-14.8%-2.2%
30 Day-20.5%-31.0%-21.7%
90 Day-17.8%-44.2%-29.6%
1 Year-11.2%-11.2%-43.4%-45.4%-22.2%-25.9%
3 Year-11.3%-22.2%-42.9%-49.1%-16.1%-26.6%
5 Yearn/a-43.0%-53.2%-4.6%-26.2%

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?

47.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 0GUX (SEK84.5) is trading below our estimate of fair value (SEK160)

Significantly Below Fair Value: 0GUX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 0GUX is poor value based on its PE Ratio (6.9x) compared to the Banks industry average (4.7x).

PE vs Market: 0GUX is good value based on its PE Ratio (6.9x) compared to the UK market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: 0GUX is poor value based on its PEG Ratio (10.9x)


Price to Book Ratio

PB vs Industry: 0GUX is overvalued based on its PB Ratio (0.9x) compared to the GB Banks industry average (0.4x).


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 14 analysts?

0.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0GUX's forecast earnings growth (0.6% per year) is above the savings rate (0.5%).

Earnings vs Market: 0GUX's earnings (0.6% per year) are forecast to grow slower than the UK market (15.6% per year).

High Growth Earnings: 0GUX's earnings are forecast to grow, but not significantly.

Revenue vs Market: 0GUX's revenue (2% per year) is forecast to grow slower than the UK market (2.4% per year).

High Growth Revenue: 0GUX's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0GUX's Return on Equity is forecast to be low in 3 years time (11.2%).


Next Steps

Past Performance

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

6.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0GUX has high quality earnings.

Growing Profit Margin: 0GUX's current net profit margins (42.2%) are lower than last year (51.7%).


Past Earnings Growth Analysis

Earnings Trend: 0GUX's earnings have grown by 6.1% per year over the past 5 years.

Accelerating Growth: 0GUX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 0GUX had negative earnings growth (-12.7%) over the past year, making it difficult to compare to the Banks industry average (29.6%).


Return on Equity

High ROE: 0GUX's Return on Equity (13%) 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

Inventory Level: 0GUX has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0GUX's debt is not covered by short term assets (assets are 0.6x debt).


Financial Institutions Analysis

Asset Level: 0GUX's level of assets compared to its equity is moderate.

Allowance for Bad Loans: Insufficient data to determine if 0GUX has a sufficient allowance for bad loans.

Low Risk Liabilities: 0GUX's liabilities are made up of primarily higher risk sources of funding.

Loan Level: 0GUX has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0GUX has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: 0GUX has an appropriate level of bad loans (0.67%)


Next Steps

Dividend

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

9.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 0GUX's dividend (9.68%) is higher than the bottom 25% of dividend payers in the UK market (2.67%).

High Dividend: 0GUX's dividend (9.68%) is in the top 25% of dividend payers in the UK market (7.36%)


Stability and Growth of Payments

Stable Dividend: 0GUX's dividends per share have been stable in the past 10 years.

Growing Dividend: 0GUX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (67%), 0GUX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 0GUX's dividends in 3 years are forecast to be covered by earnings (70.8% payout ratio).


Next Steps

Management

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

2.7yrs

Average management tenure


CEO

Johan Torgeby (45yo)

3.08s

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 ($USD1.94M) is below average for companies of similar size in the UK market ($USD5.46M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Johan Torgeby
President3.08yrskr19.42m0.00027% SEK373.0k
Masih Yazdi
Group Chief Financial Officer0.25yrno data0.00049% SEK676.9k
Ainar Leppänen
Head of Retail & Banking Technology and Member of Management Board3.92yrsno datano data
Ausra Matuseviciene
Head of Operations5.25yrsno data0.00047% SEK649.2k
Javiera Ragnartz
Head of Investment Management Divisionno datano datano data
John Abrahamson
Head of Corporate Finance Unit14.83yrsno datano data
Petra Ålund
Head of Technology1yrno data0.00017% SEK234.8k
Nicolas Moch
Chief Information Officer2.25yrsno data0.00011% SEK151.9k
Christoffer Geijer
Head of Investor Relations2yrsno datano data
Gent Jansson
Head of Group Complianceno datano datano data

2.7yrs

Average Tenure

47yo

Average Age

Experienced Management: 0GUX's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Johan Torgeby
President3.08yrskr19.42m0.00027% SEK373.0k
Winnie Fok
Independent Director7.08yrskr1.01m0.00014% SEK193.4k
Marcus Wallenberg
Chairman of the Board15yrskr3.94m0.035% SEK48.2m
Sven Nyman
Vice Chairman of the Board3.08yrskr980.00k0.00049% SEK676.9k
Johan Andresen
Independent Director9.08yrskr740.00k0.0046% SEK6.4m
Helena Saxon
Independent Director4.08yrskr1.17m0.00058% SEK801.2k
Signhild Hansen
Independent Director9.92yrskr1.13m0.00025% SEK345.3k
Jesper Ovesen
Vice Chairman of the Board6.08yrskr1.85m0.0012% SEK1.6m
Samir Brikho
Independent Director7.08yrskr1.12mno data
Håkan Westerberg
Director5.25yrsno data0.00020% SEK276.3k

6.6yrs

Average Tenure

59.5yo

Average Age

Experienced Board: 0GUX's board of directors are considered experienced (6.6 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: 0GUX
  • Exchange: LSE
  • Founded: 1856
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: kr138.134b
  • Shares outstanding: 2.16b
  • 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 & Investment Management, and Other 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. 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 189 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 Analysis2020/04/04 02:21
End of Day Share Price2020/03/25 00:00
Earnings2019/12/31
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.