Skandinaviska Enskilda Banken AB (publ)

LSE:0HBY Stock Report

Market Cap: SEK 303.7b

Skandinaviska Enskilda Banken Valuation

Is 0HBY 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 0HBY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0HBY (SEK149.1) is trading below our estimate of fair value (SEK322.17)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0HBY?

Key metric: As 0HBY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0HBY. This is calculated by dividing 0HBY's market cap by their current earnings.
What is 0HBY's PE Ratio?
PE Ratio8.3x
EarningsSEK 36.75b
Market CapSEK 303.74b

Price to Earnings Ratio vs Peers

How does 0HBY's PE Ratio compare to its peers?

The above table shows the PE ratio for 0HBY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
STAN Standard Chartered
7.4x5.1%UK£23.4b
NWG NatWest Group
7.1x0.3%UK£31.5b
LLOY Lloyds Banking Group
7.2x4.2%UK£32.2b
BARC Barclays
8.8x10.8%UK£37.4b
0HBY Skandinaviska Enskilda Banken
8.3x-7.3%SEK 303.7b

Price-To-Earnings vs Peers: 0HBY is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (7.6x).

Price to Earnings Ratio vs Industry

How does 0HBY's PE Ratio compare vs other companies in the European Banks Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0HBY 8.3xIndustry Avg. 7.3xNo. of Companies45PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0HBY is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the European Banks industry average (7.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0HBY'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.

0HBY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ratio5x

Price-To-Earnings vs Fair Ratio: 0HBY is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (5x).

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 0HBY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 148.65
SEK 157.50
+6.0%
12.0%SEK 185.00SEK 130.00n/a16
Nov ’25SEK 152.75
SEK 158.73
+3.9%
11.7%SEK 185.00SEK 130.00n/a16
Oct ’25SEK 154.75
SEK 159.41
+3.0%
11.3%SEK 183.00SEK 130.00n/a17
Sep ’25SEK 157.95
SEK 158.87
+0.6%
12.3%SEK 190.00SEK 130.00n/a15
Aug ’25SEK 161.36
SEK 159.00
-1.5%
12.3%SEK 190.00SEK 130.00n/a15
Jul ’25SEK 157.67
SEK 152.33
-3.4%
11.4%SEK 180.00SEK 124.00n/a15
Jun ’25SEK 148.53
SEK 152.53
+2.7%
12.8%SEK 192.00SEK 120.00n/a15
May ’25SEK 145.30
SEK 151.29
+4.1%
13.6%SEK 192.00SEK 115.00n/a14
Apr ’25SEK 144.95
SEK 149.57
+3.2%
12.7%SEK 185.00SEK 115.00n/a14
Mar ’25SEK 155.08
SEK 149.24
-3.8%
12.0%SEK 185.00SEK 115.00n/a17
Feb ’25SEK 149.75
SEK 149.00
-0.5%
11.5%SEK 184.00SEK 115.00n/a18
Jan ’25SEK 138.78
SEK 146.24
+5.4%
12.0%SEK 186.00SEK 117.00n/a17
Dec ’24SEK 127.14
SEK 145.41
+14.4%
12.4%SEK 186.00SEK 117.00n/a17
Nov ’24SEK 122.68
SEK 144.17
+17.5%
12.4%SEK 186.00SEK 117.00SEK 152.7518
Oct ’24SEK 129.96
SEK 142.05
+9.3%
12.9%SEK 179.00SEK 98.00SEK 154.7519
Sep ’24SEK 127.35
SEK 141.26
+10.9%
13.1%SEK 179.00SEK 98.00SEK 157.9519
Aug ’24SEK 126.79
SEK 140.53
+10.8%
13.1%SEK 179.00SEK 98.00SEK 161.3619
Jul ’24SEK 118.49
SEK 138.33
+16.7%
11.4%SEK 173.00SEK 115.00SEK 157.6718
Jun ’24SEK 115.95
SEK 138.61
+19.5%
11.1%SEK 173.00SEK 114.00SEK 148.5318
May ’24SEK 116.26
SEK 137.56
+18.3%
11.2%SEK 171.00SEK 104.00SEK 145.3018
Apr ’24SEK 113.99
SEK 136.22
+19.5%
12.4%SEK 171.00SEK 102.00SEK 144.9518
Mar ’24SEK 129.72
SEK 137.17
+5.7%
12.2%SEK 171.00SEK 102.00SEK 155.0818
Feb ’24SEK 121.49
SEK 136.50
+12.4%
12.8%SEK 171.00SEK 102.00SEK 149.7518
Jan ’24SEK 121.50
SEK 133.37
+9.8%
12.4%SEK 159.00SEK 101.00SEK 138.7819
Dec ’23SEK 121.10
SEK 131.60
+8.7%
13.5%SEK 159.00SEK 98.00SEK 127.1420
Nov ’23SEK 116.40
SEK 128.90
+10.7%
13.3%SEK 156.00SEK 97.00SEK 122.6820

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

Discover undervalued companies

Secure Trust Bank

UK£67.3m

Provides banking and financial products and services in the United Kingdom.

STBL

UK£3.51

7D

-11.8%

1Y

-46.2%

Secure Trust Bank

UK£67.3m

Provides banking and financial products and services in the United Kingdom.

STB

UK£3.48

7D

-9.4%

1Y

-47.4%

Banco Santander

€66.8b

Provides various financial services worldwide.

BNC

€3.66

7D

-2.3%

1Y

12.4%