Skandinaviska Enskilda Banken Valuation

Q: What is the Fair Price of SEB A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

SEB A (SEK153.9) is trading below our estimate of [[fair value]] (SEK301)

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

Below Fair Value: SEB A (SEK153.9) is trading below our estimate of fair value (SEK301)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SEB A. This is calculated by dividing SEB A's market cap by their current preferred multiple.
What is SEB A's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	SEK 325.05b

SEB A 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/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	-1.3x

Price to Earnings Ratio vs Peers

How does SEB A's PE Ratio compare to its peers?

The above table shows the PE ratio for SEB A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	7.2x
SWED A Swedbank	6.9x	-7.1%	SEK 250.5b
NDA SE Nordea Bank Abp	7.7x	-2.5%	SEK 455.8b
SHB A Svenska Handelsbanken	7.2x	-10.4%	SEK 202.3b
NORION Norion Bank	7.2x	7.2%	SEK 9.0b
SEB A Skandinaviska Enskilda Banken	8.3x	-6.5%	SEK 325.1b

Price-To-Earnings vs Peers: SEB A is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (7.2x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	-5.6%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	-5.6%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: SEB A is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the European Banks industry average (7.7x).

Price to Earnings Ratio vs Fair Ratio

What is SEB A'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.

SEB A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	8.3x
Fair PE Ratio	7.6x

Price-To-Earnings vs Fair Ratio: SEB A is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (7.6x).

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 SEB A forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 153.90	SEK 151.67 -1.5%	11.4%	SEK 180.00	SEK 124.00	n/a	15
Jun ’25	SEK 149.15	SEK 151.93 +1.9%	12.9%	SEK 192.00	SEK 120.00	n/a	15
May ’25	SEK 145.30	SEK 151.29 +4.1%	13.6%	SEK 192.00	SEK 115.00	n/a	14
Apr ’25	SEK 144.95	SEK 149.57 +3.2%	12.7%	SEK 185.00	SEK 115.00	n/a	14
Mar ’25	SEK 153.25	SEK 149.24 -2.6%	12.0%	SEK 185.00	SEK 115.00	n/a	17
Feb ’25	SEK 148.35	SEK 149.00 +0.4%	11.5%	SEK 184.00	SEK 115.00	n/a	18
Jan ’25	SEK 138.80	SEK 146.24 +5.4%	12.0%	SEK 186.00	SEK 117.00	n/a	17
Dec ’24	SEK 127.55	SEK 145.41 +14.0%	12.4%	SEK 186.00	SEK 117.00	n/a	17
Nov ’24	SEK 122.70	SEK 144.17 +17.5%	12.4%	SEK 186.00	SEK 117.00	n/a	18
Oct ’24	SEK 130.65	SEK 142.05 +8.7%	12.9%	SEK 179.00	SEK 98.00	n/a	19
Sep ’24	SEK 127.25	SEK 141.26 +11.0%	13.1%	SEK 179.00	SEK 98.00	n/a	19
Aug ’24	SEK 126.75	SEK 140.53 +10.9%	13.1%	SEK 179.00	SEK 98.00	n/a	19
Jul ’24	SEK 119.15	SEK 138.33 +16.1%	11.4%	SEK 173.00	SEK 115.00	SEK 157.80	18
Jun ’24	SEK 115.95	SEK 138.61 +19.5%	11.1%	SEK 173.00	SEK 114.00	SEK 149.15	18
May ’24	SEK 116.50	SEK 137.56 +18.1%	11.2%	SEK 171.00	SEK 104.00	SEK 145.30	18
Apr ’24	SEK 114.35	SEK 136.22 +19.1%	12.4%	SEK 171.00	SEK 102.00	SEK 144.95	18
Mar ’24	SEK 128.90	SEK 137.17 +6.4%	12.2%	SEK 171.00	SEK 102.00	SEK 153.25	18
Feb ’24	SEK 122.50	SEK 136.50 +11.4%	12.8%	SEK 171.00	SEK 102.00	SEK 148.35	18
Jan ’24	SEK 119.95	SEK 133.37 +11.2%	12.4%	SEK 159.00	SEK 101.00	SEK 138.80	19
Dec ’23	SEK 121.10	SEK 131.60 +8.7%	13.5%	SEK 159.00	SEK 98.00	SEK 127.55	20
Nov ’23	SEK 116.40	SEK 128.90 +10.7%	13.3%	SEK 156.00	SEK 97.00	SEK 122.70	20
Oct ’23	SEK 106.80	SEK 124.65 +16.7%	12.4%	SEK 150.00	SEK 95.00	SEK 130.65	20
Sep ’23	SEK 104.30	SEK 122.76 +17.7%	11.9%	SEK 150.00	SEK 95.00	SEK 127.25	21
Aug ’23	SEK 108.60	SEK 122.43 +12.7%	11.7%	SEK 150.00	SEK 95.00	SEK 126.75	21
Jul ’23	SEK 101.10	SEK 123.20 +21.9%	10.6%	SEK 148.00	SEK 98.00	SEK 119.15	20

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