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Skandinaviska Enskilda Banken AB (publ.)

LSE:0HBY
Snowflake Description

Adequate balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0HBY
LSE
SEK198B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Skandinaviska Enskilda Banken AB (publ.) provides corporate, retail, investment, and private banking services in Sweden and internationally. The last earnings update was 43 days ago. More info.


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0HBY Share Price and Events
7 Day Returns
4.2%
LSE:0HBY
2.4%
GB Banks
1.1%
GB Market
1 Year Returns
7.3%
LSE:0HBY
-7.1%
GB Banks
2.7%
GB Market
0HBY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Skandinaviska Enskilda Banken AB (publ.) (0HBY) 4.2% -4.5% 1.3% 7.3% 13.2% 4.6%
GB Banks 2.4% 3.8% 6.1% -7.1% 18.8% -12.3%
GB Market 1.1% 3.1% 8.5% 2.7% 14.1% 5.7%
1 Year Return vs Industry and Market
  • 0HBY outperformed the Banks industry which returned -7.1% over the past year.
  • 0HBY outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.7% over the past year.
Price Volatility
0HBY
Industry
5yr Volatility vs Market

0HBY Value

 Is Skandinaviska Enskilda Banken AB (publ.) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Skandinaviska Enskilda Banken AB (publ.) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Skandinaviska Enskilda Banken AB (publ.).

LSE:0HBY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 17 analysts.
= Stable Book Value * Return on Equity
= SEK73.19 * 12.6%
SEK9.22
Book Value of Equity per Share Weighted future Book Value estimates from 12 analysts. SEK73.19
Discount Rate (Cost of Equity) See below 13.1%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0HBY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.591 (1 + (1- 22%) (413.2%))
2.002
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (2 * 5.96%)
13.15%

Discounted Cash Flow Calculation for LSE:0HBY using Excess Returns Model Model

The calculations below outline how an intrinsic value for Skandinaviska Enskilda Banken AB (publ.) is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0HBY Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.6% – 13.15%) * SEK73.19)
SEK-0.41
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SEK-0.41 / (13.15% - 1.23%)
SEK-3.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SEK73.19 + SEK-3.42
SEK69.78
LSE:0HBY Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0HBY represents 1.00033x of OM:SEB A
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00033x
Value per Share
(Listing Adjusted, SEK)
= Value per Share (SEK) x Listing Adjustment Factor
= SEK 69.78 x 1.00033
SEK69.80
Value per share (SEK) From above. SEK69.80
Current discount Discount to share price of SEK91.67
= -1 x (SEK91.67 - SEK69.80) / SEK69.80
-31.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Skandinaviska Enskilda Banken AB (publ.) is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Skandinaviska Enskilda Banken AB (publ.)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Skandinaviska Enskilda Banken AB (publ.)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0HBY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SEK SEK10.69
OM:SEB A Share Price ** OM (2019-04-17) in SEK SEK91.64
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.25x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.25x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Skandinaviska Enskilda Banken AB (publ.).

LSE:0HBY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:SEB A Share Price ÷ EPS (both in SEK)

= 91.64 ÷ 10.69

8.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Skandinaviska Enskilda Banken AB (publ.) is good value based on earnings compared to the GB Banks industry average.
  • Skandinaviska Enskilda Banken AB (publ.) is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Skandinaviska Enskilda Banken AB (publ.)'s expected growth come at a high price?
Raw Data
LSE:0HBY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
-2.8%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0HBY PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.57x ÷ -2.8%

-3.11x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Skandinaviska Enskilda Banken AB (publ.) earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Skandinaviska Enskilda Banken AB (publ.)'s assets?
Raw Data
LSE:0HBY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SEK SEK68.76
OM:SEB A Share Price * OM (2019-04-17) in SEK SEK91.64
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
LSE:0HBY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:SEB A Share Price ÷ Book Value per Share (both in SEK)

= 91.64 ÷ 68.76

1.33x

* Primary Listing of Skandinaviska Enskilda Banken AB (publ.).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Skandinaviska Enskilda Banken AB (publ.) is overvalued based on assets compared to the GB Banks industry average.
X
Value checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Skandinaviska Enskilda Banken AB (publ.) has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0HBY Future Performance

 How is Skandinaviska Enskilda Banken AB (publ.) expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Skandinaviska Enskilda Banken AB (publ.) expected to grow at an attractive rate?
  • Skandinaviska Enskilda Banken AB (publ.)'s earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Skandinaviska Enskilda Banken AB (publ.)'s earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Skandinaviska Enskilda Banken AB (publ.)'s revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0HBY Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0HBY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts -2.8%
LSE:0HBY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 4.1%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0HBY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0HBY Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 52,410 21,416 2
2021-12-31 50,979 20,797 13
2020-12-31 49,161 19,738 16
2019-12-31 47,228 18,727 17
LSE:0HBY Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2018-12-31 44,720 -51,248 23,134
2018-09-30 45,142 -199,686 21,777
2018-06-30 44,941 35,709 21,484
2018-03-31 44,383 -97,680 15,968
2018-01-01 44,591 4,990 16,197
2017-09-30 44,153 77,770 17,269
2017-06-30 43,930 -4,358 17,172
2017-03-31 43,143 77,687 17,183
2016-12-31 42,108 -34,832 10,618
2016-09-30 41,637 136,980 10,975
2016-06-30 40,880 26,299 10,229
2016-03-31 41,302 38,988 9,636

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Skandinaviska Enskilda Banken AB (publ.)'s earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Skandinaviska Enskilda Banken AB (publ.)'s revenue is expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0HBY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Skandinaviska Enskilda Banken AB (publ.) Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0HBY Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 9.83 10.46 9.20 2.00
2021-12-31 9.55 10.43 8.98 10.00
2020-12-31 9.05 9.64 8.44 13.00
2019-12-31 8.60 9.08 8.40 11.00
LSE:0HBY Past Financials Data
Date (Data in SEK Millions) EPS *
2018-12-31 10.69
2018-09-30 10.06
2018-06-30 9.92
2018-03-31 7.37
2018-01-01 7.47
2017-09-30 7.97
2017-06-30 7.92
2017-03-31 7.91
2016-12-31 4.88
2016-09-30 5.03
2016-06-30 4.67
2016-03-31 4.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Skandinaviska Enskilda Banken AB (publ.) is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Skandinaviska Enskilda Banken AB (publ.) has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0HBY Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Skandinaviska Enskilda Banken AB (publ.)'s growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Skandinaviska Enskilda Banken AB (publ.)'s year on year earnings growth rate has been positive over the past 5 years.
  • Skandinaviska Enskilda Banken AB (publ.)'s 1-year earnings growth exceeds its 5-year average (42.7% vs 3.6%)
  • Skandinaviska Enskilda Banken AB (publ.)'s earnings growth has exceeded the GB Banks industry average in the past year (42.7% vs 42.2%).
Earnings and Revenue History
Skandinaviska Enskilda Banken AB (publ.)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Skandinaviska Enskilda Banken AB (publ.) Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0HBY Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 44,720.00 23,134.00 15,855.00
2018-09-30 45,142.00 21,777.00 15,892.00
2018-06-30 44,941.00 21,484.00 14,888.00
2018-03-31 44,383.00 15,968.00 14,923.00
2018-01-01 44,591.00 16,197.00 15,938.00
2017-09-30 44,153.00 17,269.00 15,632.00
2017-06-30 43,930.00 17,172.00 16,626.00
2017-03-31 43,143.00 17,183.00 16,053.00
2016-12-31 42,108.00 10,618.00 16,159.00
2016-09-30 41,637.00 10,975.00 16,584.00
2016-06-30 40,880.00 10,229.00 16,739.00
2016-03-31 41,302.00 9,636.00 16,596.00
2015-12-31 42,667.00 16,581.00 16,542.00
2015-09-30 45,531.00 17,668.00 17,024.00
2015-06-30 47,864.00 19,737.00 17,084.00
2015-03-31 47,864.00 19,985.00 17,039.00
2014-12-31 46,783.00 19,218.00 17,147.00
2014-09-30 44,222.00 17,745.00 17,504.00
2014-06-30 42,133.00 16,024.00 17,554.00
2014-03-31 41,530.00 15,657.00 18,162.00
2013-12-31 40,843.00 14,782.00 17,788.00
2013-09-30 40,091.00 13,800.00 16,607.00
2013-06-30 39,515.00 13,034.00 17,055.00
2013-03-31 38,991.00 12,277.00 17,115.00
2012-12-31 38,870.00 12,120.00 17,190.00
2012-09-30 38,122.00 11,223.00 18,038.00
2012-06-30 37,869.00 11,079.00 17,572.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Skandinaviska Enskilda Banken AB (publ.) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Skandinaviska Enskilda Banken AB (publ.) used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Skandinaviska Enskilda Banken AB (publ.) improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Skandinaviska Enskilda Banken AB (publ.) has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0HBY Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Skandinaviska Enskilda Banken AB (publ.)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Skandinaviska Enskilda Banken AB (publ.) Company Filings, last reported 3 months ago.

LSE:0HBY Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 148,789.00 819,531.00 294,564.00
2018-09-30 145,364.00 856,925.00 511,979.00
2018-06-30 139,573.00 921,510.00 549,212.00
2018-03-31 130,196.00 863,614.00 507,895.00
2018-01-01 138,841.00 745,066.00 107,311.00
2017-09-30 142,568.00 925,596.00 1,305,964.00
2017-06-30 138,358.00 940,793.00 1,147,481.00
2017-03-31 134,727.00 991,326.00 1,307,616.00
2016-12-31 140,976.00 888,624.00 447,700.00
2016-09-30 135,478.00 1,010,154.00 1,193,082.00
2016-06-30 131,928.00 973,557.00 1,105,085.00
2016-03-31 126,237.00 975,989.00 832,576.00
2015-12-31 142,798.00 879,767.00 525,537.00
2015-09-30 136,462.00 1,035,031.00 299,462.00
2015-06-30 133,370.00 1,015,604.00 296,714.00
2015-03-31 128,684.00 1,107,846.00 664,074.00
2014-12-31 134,576.00 987,739.00 753,591.00
2014-09-30 128,607.00 775,119.00 363,806.00
2014-06-30 123,224.00 782,640.00 291,555.00
2014-03-31 119,084.00 787,691.00 340,830.00
2013-12-31 122,814.00 961,928.00 761,929.00
2013-09-30 115,671.00 902,819.00 506,887.00
2013-06-30 109,380.00 891,802.00 321,469.00
2013-03-31 106,044.00 889,646.00 246,198.00
2012-12-31 109,513.00 876,145.00 587,221.00
2012-09-30 113,618.00 876,770.00 498,225.00
2012-06-30 110,992.00 795,022.00 371,132.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Skandinaviska Enskilda Banken AB (publ.) has an acceptable proportion of non-loan assets held.
  • Skandinaviska Enskilda Banken AB (publ.)'s liabilities are made up of primarily low risk sources of funding.
  • Skandinaviska Enskilda Banken AB (publ.) has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Skandinaviska Enskilda Banken AB (publ.)'s level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Skandinaviska Enskilda Banken AB (publ.) has a low allowance for bad loans.
  • Skandinaviska Enskilda Banken AB (publ.) has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Skandinaviska Enskilda Banken AB (publ.) has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0HBY Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.55%
Current annual income from Skandinaviska Enskilda Banken AB (publ.) dividends. Estimated to be 7.57% next year.
If you bought SEK2,000 of Skandinaviska Enskilda Banken AB (publ.) shares you are expected to receive SEK131 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Skandinaviska Enskilda Banken AB (publ.)'s pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Skandinaviska Enskilda Banken AB (publ.)'s dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.07%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0HBY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0HBY Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 7.75 2.00
2021-12-31 7.32 14.00
2020-12-31 6.87 18.00
2019-12-31 6.56 16.00
LSE:0HBY Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-03-26 6.000 6.894
2018-03-26 5.750 6.354
2017-03-07 5.500 5.416
2017-02-02 5.500 5.312
2016-02-22 5.250 6.277
2015-01-29 4.750 4.938
2014-03-06 4.000 4.357
2014-02-10 4.000 4.535
2014-02-07 4.000 4.659
2014-02-05 4.000 4.646
2013-02-28 2.750 3.810
2013-01-31 2.750 4.206
2012-03-29 1.750 3.514
2011-02-28 1.500 3.342
2011-02-04 1.500 2.610
2010-05-11 1.000 2.029
2009-10-21 0.000 0.000
2009-07-20 0.000 0.000
2009-04-24 0.000 0.000
2009-04-20 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Skandinaviska Enskilda Banken AB (publ.) has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Skandinaviska Enskilda Banken AB (publ.) only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Skandinaviska Enskilda Banken AB (publ.)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Skandinaviska Enskilda Banken AB (publ.) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Skandinaviska Enskilda Banken AB (publ.) has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0HBY Management

 What is the CEO of Skandinaviska Enskilda Banken AB (publ.)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Johan Torgeby
COMPENSATION SEK16,430,000
AGE 44
TENURE AS CEO 2.1 years
CEO Bio

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 Institutions at Skandinaviska Enskilda Banken AB (publ) since January 2016 until March 29, 2017. He served as the Co-Head of Merchant Banking Division at Skandinaviska Enskilda Banken AB (publ) since October, 2014 until January 2016. He served as the Head of Client Relationship Management at Skandinaviska Enskilda Banken AB (publ) from November 11, 2011 to October 2014 and served as its Head of Large Corporates until November 1, 2011. He has been a Director of Skandinaviska Enskilda Banken AB (publ) since March 28, 2017. Mr. Torgeby has been a Member of the Supervisory Board at SEB AG since January 22, 2016.

CEO Compensation
  • Johan's compensation has increased by more than 20% in the past year.
  • Johan's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Skandinaviska Enskilda Banken AB (publ.) management team in years:

2.5
Average Tenure
46
Average Age
  • The tenure for the Skandinaviska Enskilda Banken AB (publ.) management team is about average.
Management Team

Johan Torgeby

TITLE
President
COMPENSATION
SEK16M
AGE
44
TENURE
2.1 yrs

Nina Korfu-Pedersen

TITLE
Head of Group Finance
AGE
45
TENURE
3.3 yrs

Ainar Leppänen

TITLE
Head of Retail & Banking Technology and Member of Management Board
AGE
46
TENURE
2.9 yrs

Ausra Matuseviciene

TITLE
Head of Operations
AGE
45
TENURE
4.3 yrs

John Abrahamson

TITLE
Head of Corporate Finance Unit
AGE
60
TENURE
13.8 yrs

Nicholas Moch

TITLE
Chief Information Officer
AGE
46
TENURE
1.3 yrs

Christoffer Geijer

TITLE
Head of Investor Relations
TENURE
1 yrs

Gent Jansson

TITLE
Head of Group Compliance

Hans Ragnhäll

TITLE
Company Legal Officer

Sara Öhrvall

TITLE
Chief Digital
COMPENSATION
SEK751K
AGE
47
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure and age of the Skandinaviska Enskilda Banken AB (publ.) board of directors in years:

6.1
Average Tenure
59
Average Age
  • The tenure for the Skandinaviska Enskilda Banken AB (publ.) board of directors is about average.
Board of Directors

Marcus Wallenberg

TITLE
Chairman of the Board
COMPENSATION
SEK4M
AGE
62
TENURE
14 yrs

Johan Torgeby

TITLE
President
COMPENSATION
SEK16M
AGE
44
TENURE
2.1 yrs

Jens Ovesen

TITLE
Vice Chairman of the Board
COMPENSATION
SEK2M
AGE
61
TENURE
5.1 yrs

Sven Nyman

TITLE
Vice Chairman of the Board
COMPENSATION
SEK930K
AGE
59
TENURE
2.1 yrs

Signhild Hansen

TITLE
Director
COMPENSATION
SEK1M
AGE
58
TENURE
8.9 yrs

Helena Saxon

TITLE
Director
COMPENSATION
SEK1M
AGE
48
TENURE
3.1 yrs

Johan Andresen

TITLE
Director
COMPENSATION
SEK700K
AGE
57
TENURE
8.1 yrs

Samir Brikho

TITLE
Director
COMPENSATION
SEK1M
AGE
60
TENURE
6.1 yrs

Winnie Fok

TITLE
Director
COMPENSATION
SEK965K
AGE
62
TENURE
6.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Skandinaviska Enskilda Banken AB (publ.) insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
26. Feb 19 Buy Jeanette Almberg Individual 26. Feb 19 26. Feb 19 339 SEK93.24 SEK31,608
26. Oct 18 Sell Riho Unt Individual 26. Oct 18 26. Oct 18 -4,500 SEK93.24 SEK-419,580
26. Jul 18 Sell William Paus Individual 23. Jul 18 23. Jul 18 -10,000 SEK91.03 SEK-910,300
03. May 18 Sell Riho Unt Individual 02. May 18 02. May 18 -42,000 SEK83.45 SEK-3,504,904
X
Management checks
We assess Skandinaviska Enskilda Banken AB (publ.)'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Skandinaviska Enskilda Banken AB (publ.) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0HBY News

Simply Wall St News

0HBY Company Info

Description

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.

Details
Name: Skandinaviska Enskilda Banken AB (publ.)
0HBY
Exchange: LSE
Founded: 1856
SEK198,337,058,783
2,163,895,470
Website: http://www.sebgroup.com
Address: Skandinaviska Enskilda Banken AB (publ.)
Kungsträdgårdsgatan 8,
Stockholm,
Stockholm County, 106 40,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SEB A Series A Shares OMX Nordic Exchange Stockholm SE SEK 02. Jan 1980
OTCPK SVKE.F Series A Shares Pink Sheets LLC US USD 02. Jan 1980
DB SEBA Series A Shares Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0HBY Series A Shares London Stock Exchange GB SEK 02. Jan 1980
BATS-CHIXE SEBAS Series A Shares BATS 'Chi-X Europe' GB SEK 02. Jan 1980
OM SEB C Series C Shares OMX Nordic Exchange Stockholm SE SEK 19. Aug 1992
OTCPK SKVK.Y SPONADR REPSHS A Pink Sheets LLC US USD 12. Nov 2013
DB SEBC Series C Shares Deutsche Boerse AG DE EUR 19. Aug 1992
LSE 0GUX Series C Shares London Stock Exchange GB SEK 19. Aug 1992
BATS-CHIXE SEBCS Series C Shares BATS 'Chi-X Europe' GB SEK 19. Aug 1992
Number of employees
Current staff
Staff numbers
15,562
Skandinaviska Enskilda Banken AB (publ.) employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 21:19
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/03/05
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.