Nordea Bank Abp

OM:NDA SE Stock Report

Market Cap: SEK 440.7b

Nordea Bank Abp Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: NDA SE (SEK125.95) is trading below our estimate of fair value (SEK269.35)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

NDA SE 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 Ratio-2x

Price to Earnings Ratio vs Peers

How does NDA SE's PE Ratio compare to its peers?

The above table shows the PE ratio for NDA SE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.6x
SEB A Skandinaviska Enskilda Banken
8.8x-6.8%SEK 334.5b
SWED A Swedbank
7.3x-7.5%SEK 251.7b
SHB A Svenska Handelsbanken
7.7x-5.6%SEK 213.8b
NORION Norion Bank
6.7x8.1%SEK 8.4b
NDA SE Nordea Bank Abp
7.4x-3.8%SEK 440.7b

Price-To-Earnings vs Peers: NDA SE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the peer average (7.6x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-5.4%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-5.4%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: NDA SE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the European Banks industry average (7.8x).

Price to Earnings Ratio vs Fair Ratio

What is NDA SE'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.

NDA SE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.4x
Fair PE Ratio8x

Price-To-Earnings vs Fair Ratio: NDA SE is good value based on its Price-To-Earnings Ratio (7.4x) compared to the estimated Fair Price-To-Earnings Ratio (8x).

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 NDA SE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 125.95
SEK 150.23
+19.3%
8.8%SEK 170.82SEK 120.94n/a13
Jul ’25SEK 130.15
SEK 146.99
+12.9%
8.3%SEK 174.01SEK 121.62n/a12
Jun ’25SEK 129.00
SEK 147.68
+14.5%
8.2%SEK 169.00SEK 118.47n/a12
May ’25SEK 128.60
SEK 148.63
+15.6%
8.2%SEK 168.03SEK 119.49n/a12
Apr ’25SEK 119.20
SEK 149.95
+25.8%
8.5%SEK 168.44SEK 116.52n/a13
Mar ’25SEK 126.68
SEK 145.71
+15.0%
9.6%SEK 179.03SEK 112.65n/a14
Feb ’25SEK 127.06
SEK 150.35
+18.3%
10.1%SEK 182.37SEK 116.03n/a13
Jan ’25SEK 124.72
SEK 149.48
+19.9%
8.5%SEK 180.70SEK 131.89n/a12
Dec ’24SEK 118.74
SEK 148.39
+25.0%
5.7%SEK 162.57SEK 133.78n/a13
Nov ’24SEK 117.08
SEK 151.56
+29.4%
6.3%SEK 168.03SEK 136.30n/a14
Oct ’24SEK 120.12
SEK 149.93
+24.8%
7.4%SEK 170.02SEK 132.32n/a14
Sep ’24SEK 120.46
SEK 150.89
+25.3%
6.9%SEK 170.18SEK 133.66n/a15
Aug ’24SEK 118.96
SEK 146.61
+23.2%
6.9%SEK 165.31SEK 129.83n/a15
Jul ’24SEK 117.30
SEK 145.11
+23.7%
6.1%SEK 163.72SEK 130.42SEK 130.1516
Jun ’24SEK 108.46
SEK 147.14
+35.7%
6.1%SEK 163.59SEK 133.70SEK 129.0015
May ’24SEK 113.82
SEK 143.49
+26.1%
6.0%SEK 159.39SEK 130.50SEK 128.6015
Apr ’24SEK 110.64
SEK 144.21
+30.3%
6.0%SEK 162.96SEK 129.35SEK 119.2015
Mar ’24SEK 132.02
SEK 141.28
+7.0%
6.1%SEK 159.58SEK 126.67SEK 126.6815
Feb ’24SEK 123.42
SEK 135.63
+9.9%
6.8%SEK 155.12SEK 116.26SEK 127.0615
Jan ’24SEK 111.68
SEK 132.06
+18.2%
8.1%SEK 156.07SEK 113.69SEK 124.7215
Dec ’23SEK 109.82
SEK 132.33
+20.5%
8.0%SEK 156.52SEK 114.02SEK 118.7415
Nov ’23SEK 104.90
SEK 130.13
+24.0%
9.6%SEK 153.72SEK 113.76SEK 117.0814
Oct ’23SEK 95.67
SEK 129.45
+35.3%
10.3%SEK 155.34SEK 114.74SEK 120.1214
Sep ’23SEK 96.69
SEK 124.76
+29.0%
9.9%SEK 151.75SEK 111.53SEK 120.4615
Aug ’23SEK 99.65
SEK 122.34
+22.8%
10.2%SEK 149.28SEK 107.29SEK 118.9615
Jul ’23SEK 91.04
SEK 122.93
+35.0%
10.4%SEK 144.52SEK 92.39SEK 117.3014

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

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