Avanza Bank Holding AB (publ)

BATS-CHIXE:AZAS Stock Report

Market Cap: SEK 53.9b

Avanza Bank Holding Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Discounted Cash Flow
Simply Wall St
SEK 360.74
Fair Value
4.8% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: AZAS (SEK343.45) is trading below our estimate of fair value (SEK360.74)

Significantly Below Fair Value: AZAS is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for AZAS. This is calculated by dividing AZAS's market cap by their current earnings.
What is AZAS's PE Ratio?
PE Ratio23.9x
EarningsSEK 2.25b
Market CapSEK 53.87b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for AZAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.4x
IGG IG Group Holdings
9.8x1.7%UK£3.6b
TCAP TP ICAP Group
20.5x21.4%UK£2.0b
PLUS Plus500
9.6x0.4%UK£2.1b
AJB AJ Bell
21.5x8.8%UK£1.8b
AZAS Avanza Bank Holding
23.9x6.3%SEK 53.9b

Price-To-Earnings vs Peers: AZAS is expensive based on its Price-To-Earnings Ratio (23.9x) compared to the peer average (15.4x).

Price to Earnings Ratio vs Industry

How does AZAS's PE Ratio compare vs other companies in the GB Capital Markets Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CBA CEIBA Investments
2.7xn/aUS$41.08m
PNIX Phoenix Digital Assets
1xn/aUS$26.51m
IX. i(x) Net Zero
0.1xn/aUS$8.94m
APQ APQ Global
0.5xn/aUS$6.35m
No. of Companies20PE01224364860+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AZAS is expensive based on its Price-To-Earnings Ratio (23.9x) compared to the UK Capital Markets industry average (11.9x).

Price to Earnings Ratio vs Fair Ratio

What is AZAS'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.

AZAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AZAS'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 AZAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 343.45
SEK 298.67
-13.0%
19.6%SEK 400.00SEK 200.00n/a12
Jan ’26n/a
SEK 246.27
0%
13.4%SEK 310.00SEK 193.00n/a11
Dec ’25SEK 221.40
SEK 242.60
+9.6%
15.8%SEK 310.00SEK 186.00n/a10
Nov ’25SEK 221.80
SEK 244.70
+10.3%
15.4%SEK 310.00SEK 186.00n/a10
Oct ’25SEK 253.90
SEK 247.10
-2.7%
15.8%SEK 310.00SEK 190.00n/a10
Sep ’25n/a
SEK 247.82
0%
15.2%SEK 320.00SEK 192.00n/a11
Aug ’25n/a
SEK 247.82
0%
15.2%SEK 320.00SEK 192.00n/a11
Jul ’25n/a
SEK 234.50
0%
16.6%SEK 320.00SEK 185.00n/a10
Jun ’25n/a
SEK 227.90
0%
17.9%SEK 320.00SEK 181.00n/a10
May ’25n/a
SEK 218.20
0%
14.8%SEK 257.00SEK 165.00n/a10
Apr ’25n/a
SEK 198.56
0%
11.3%SEK 227.00SEK 164.00n/a9
Mar ’25n/a
SEK 198.56
0%
11.3%SEK 227.00SEK 164.00n/a9
Feb ’25SEK 211.65
SEK 197.44
-6.7%
11.1%SEK 227.00SEK 164.00SEK 319.709
Jan ’25n/a
SEK 192.78
0%
9.3%SEK 210.00SEK 160.00n/a9
Dec ’24n/a
SEK 191.33
0%
10.2%SEK 210.00SEK 158.00SEK 221.409
Nov ’24SEK 188.38
SEK 193.78
+2.9%
11.6%SEK 230.00SEK 158.00SEK 221.809
Oct ’24SEK 189.93
SEK 201.25
+6.0%
11.3%SEK 230.00SEK 162.00SEK 253.908
Sep ’24n/a
SEK 202.25
0%
11.6%SEK 230.00SEK 162.00n/a8
Aug ’24n/a
SEK 200.75
0%
11.6%SEK 230.00SEK 162.00n/a8
Jul ’24SEK 213.80
SEK 215.67
+0.9%
18.0%SEK 300.00SEK 168.00n/a9
Jun ’24n/a
SEK 215.44
0%
18.1%SEK 300.00SEK 166.00n/a9
May ’24SEK 215.05
SEK 215.56
+0.2%
17.8%SEK 300.00SEK 166.00n/a9
Apr ’24SEK 245.60
SEK 218.78
-10.9%
18.1%SEK 305.00SEK 163.00n/a9
Mar ’24SEK 269.60
SEK 219.56
-18.6%
17.6%SEK 305.00SEK 170.00n/a9
Feb ’24SEK 241.30
SEK 203.63
-15.6%
11.8%SEK 240.00SEK 170.00SEK 211.658
Analyst Price Target
Consensus Narrative from 12 Analysts
SEK 299.41
Fair Value
14.7% overvalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/06 11:12
End of Day Share Price 2025/02/06 00:00
Earnings2024/12/31
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

Avanza Bank Holding AB (publ) is covered by 17 analysts. 11 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
Michael SandersonBarclays
Alexander MedhurstBarclays