Avanza Bank Holding AB (publ)

BATS-CHIXE:AZAS Stock Report

Market Cap: SEK 36.1b

Avanza Bank Holding Valuation

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

Below Fair Value: AZAS (SEK229.05) is trading below our estimate of fair value (SEK330.69)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

AZAS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio4x

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
11.1x6.0%UK£3.4b
PLUS Plus500
8.8x0.3%UK£1.8b
TCAP TP ICAP Group
17.3x20.5%UK£1.7b
AJB AJ Bell
24.4x7.3%UK£2.0b
AZAS Avanza Bank Holding
16.9x4.3%SEK 36.1b

Price-To-Earnings vs Peers: AZAS is expensive based on its Price-To-Earnings Ratio (16.9x) 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?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.0%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a19.0%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: AZAS is expensive based on its Price-To-Earnings Ratio (16.9x) compared to the UK Capital Markets industry average (13.1x).

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 Ratio16.9x
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 229.05
SEK 246.20
+7.5%
15.1%SEK 310.00SEK 191.00n/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 164.00n/a9
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 158.00n/a9
Nov ’24SEK 188.38
SEK 193.78
+2.9%
11.6%SEK 230.00SEK 158.00n/a9
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
Jan ’24n/a
SEK 191.00
0%
16.0%SEK 260.00SEK 154.00n/a8
Dec ’23SEK 214.00
SEK 191.00
-10.7%
16.0%SEK 260.00SEK 154.00n/a8
Nov ’23SEK 216.10
SEK 187.75
-13.1%
16.3%SEK 260.00SEK 154.00SEK 188.388
Oct ’23SEK 164.35
SEK 187.75
+14.2%
19.5%SEK 260.00SEK 140.00SEK 189.938

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

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