TF Bank AB (publ)

LSE:0RHM Stock Report

Market Cap: SEK 7.5b

TF Bank Valuation

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

Discounted Cash Flow
Simply Wall St
SEK 615.62
Fair Value
42.9% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: 0RHM (SEK351.25) is trading below our estimate of fair value (SEK615.62)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0RHM. This is calculated by dividing 0RHM's market cap by their current earnings.
What is 0RHM's PE Ratio?
PE Ratio11.8x
EarningsSEK 633.91m
Market CapSEK 7.50b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0RHM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average5.1x
ARBB Arbuthnot Banking Group
6x5.19%UK£148.7m
TBCG TBC Bank Group
6.8x17.80%UK£2.4b
BGEO Lion Finance Group
4.2x0.19%UK£2.8b
HSBK Halyk Bank of Kazakhstan
3.5x8.59%US$6.2b
0RHM TF Bank
11.8x19.59%SEK 7.5b

Price-To-Earnings vs Peers: 0RHM is expensive based on its Price-To-Earnings Ratio (11.8x) compared to the peer average (5.1x).

Price to Earnings Ratio vs Industry

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

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0RHM 11.8xIndustry Avg. 8.8xNo. of Companies41PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0RHM is expensive based on its Price-To-Earnings Ratio (11.8x) compared to the European Banks industry average (8.8x).

Price to Earnings Ratio vs Fair Ratio

What is 0RHM'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.

0RHM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.8x
Fair PE Ratio7.7x

Price-To-Earnings vs Fair Ratio: 0RHM is expensive based on its Price-To-Earnings Ratio (11.8x) compared to the estimated Fair Price-To-Earnings Ratio (7.7x).

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 0RHM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 351.25
SEK 477.50
+35.94%
8.90%SEK 520.00SEK 435.00n/a2
May ’26SEK 348.50
SEK 477.50
+37.02%
8.90%SEK 520.00SEK 435.00n/a2
Apr ’26SEK 350.00
SEK 465.00
+32.86%
7.53%SEK 500.00SEK 430.00n/a2
Mar ’26SEK 376.00
SEK 465.00
+23.67%
7.53%SEK 500.00SEK 430.00n/a2
Feb ’26SEK 371.00
SEK 460.00
+23.99%
8.70%SEK 500.00SEK 420.00n/a2
Jan ’26SEK 372.00
SEK 405.00
+8.87%
9.72%SEK 440.00SEK 350.00n/a3
Dec ’25SEK 348.00
SEK 355.00
+2.01%
1.41%SEK 360.00SEK 350.00n/a2
Nov ’25SEK 319.00
SEK 302.00
-5.33%
19.21%SEK 360.00SEK 244.00n/a2
Oct ’25SEK 265.00
SEK 287.00
+8.30%
14.98%SEK 330.00SEK 244.00n/a2
Sep ’25SEK 247.00
SEK 270.67
+9.58%
7.20%SEK 290.00SEK 244.00n/a3
Aug ’25SEK 268.00
SEK 270.67
+1.00%
7.20%SEK 290.00SEK 244.00n/a3
Jul ’25SEK 238.00
SEK 235.67
-0.98%
11.95%SEK 273.00SEK 205.00n/a3
Jun ’25n/a
SEK 217.67
0%
5.82%SEK 229.00SEK 200.00n/a3
May ’25n/a
SEK 217.67
0%
5.82%SEK 229.00SEK 200.00SEK 348.503
Apr ’25SEK 167.60
SEK 203.33
+21.32%
1.67%SEK 208.00SEK 200.00SEK 350.003
Mar ’25n/a
SEK 197.33
0%
2.66%SEK 202.00SEK 190.00SEK 376.003
Feb ’25SEK 174.80
SEK 194.00
+10.98%
2.92%SEK 202.00SEK 190.00SEK 371.003
Jan ’25n/a
SEK 193.67
0%
1.36%SEK 196.00SEK 190.00SEK 372.003
Dec ’24SEK 148.80
SEK 195.00
+31.05%
2.09%SEK 200.00SEK 190.00SEK 348.003
Nov ’24n/a
SEK 195.00
0%
2.09%SEK 200.00SEK 190.00SEK 319.003
Oct ’24n/a
SEK 195.00
0%
2.56%SEK 200.00SEK 190.00SEK 265.002
Sep ’24n/a
SEK 195.00
0%
2.56%SEK 200.00SEK 190.00SEK 247.002
Aug ’24SEK 151.20
SEK 195.00
+28.97%
2.56%SEK 200.00SEK 190.00SEK 268.002
Jul ’24SEK 157.40
SEK 199.50
+26.75%
4.76%SEK 209.00SEK 190.00SEK 238.002
Jun ’24SEK 137.20
SEK 199.50
+45.41%
4.76%SEK 209.00SEK 190.00n/a2
May ’24SEK 145.01
SEK 204.50
+41.02%
2.20%SEK 209.00SEK 200.00n/a2
AnalystConsensusTarget
Consensus Narrative from 2 Analysts
SEK 480.58
Fair Value
26.9% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/12 11:29
End of Day Share Price 2025/05/09 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

TF Bank AB (publ) is covered by 8 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Jens HallenCarnegie Investment Bank AB
Max CederborgDanske Bank