Svenska Handelsbanken AB (publ)

OM:SHB A Stock Report

Market Cap: SEK 258.3b

Svenska Handelsbanken Future Growth

Future criteria checks 1/6

Svenska Handelsbanken is forecast to grow earnings and revenue by 1.1% and 2.6% per annum respectively. EPS is expected to grow by 1% per annum. Return on equity is forecast to be 12.2% in 3 years.

Key information

1.1%

Earnings growth rate

0.96%

EPS growth rate

Banks earnings growth4.0%
Revenue growth rate2.6%
Future return on equity12.21%
Analyst coverage

Good

Last updated14 May 2026

Recent future growth updates

Analysis Article • Apr 25

Svenska Handelsbanken AB (publ) (STO:SHB A) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

Last week, you might have seen that Svenska Handelsbanken AB (publ) ( STO:SHB A ) released its quarterly result to the...

Recent updates

Narrative Update • May 13

SHB A: Future Returns Will Hinge On Dividend Strength And Split Broker Ratings

The updated analyst price target for Svenska Handelsbanken edges up by SEK 0.48 to SEK 129.01. Analysts cite revised assumptions on discount rates, revenue growth and future P/E, while also weighing a mix of recent target changes from SEK 120 to SEK 135 and differing ratings across the stock.
Analysis Article • Apr 25

Svenska Handelsbanken AB (publ) (STO:SHB A) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

Last week, you might have seen that Svenska Handelsbanken AB (publ) ( STO:SHB A ) released its quarterly result to the...
Narrative Update • Apr 24

SHB A: Future Returns Will Depend On Dividend Policy And Conflicting Rating Signals

The updated analyst price target for Svenska Handelsbanken has shifted slightly lower to SEK 128.53, reflecting a blend of recent target cuts and raises as analysts factor in adjusted fair value, modestly higher revenue growth and profit margin assumptions, and a slightly lower future P/E. Analyst Commentary Recent research on Svenska Handelsbanken has been mixed, with several price target revisions and rating changes pointing to differing views on how current fundamentals line up with valuation.
Narrative Update • Apr 09

SHB A: Future Returns Will Hinge On Dividend Stability And Mixed Rating Signals

The updated analyst price target for Svenska Handelsbanken has narrowed from about SEK 135.47 to SEK 129.88, reflecting a mix of recent downgrades and reduced expectations around revenue growth, profit margins and future P/E multiples cited by analysts. Analyst Commentary Recent Street research on Svenska Handelsbanken has been mixed, with some firms trimming price targets and ratings while others have inched targets higher.
Narrative Update • Mar 26

SHB A: Future Returns Will Hinge On Dividend Payouts And Mixed Rating Signals

The analyst price target for Svenska Handelsbanken has been adjusted slightly higher to SEK 135.47 from SEK 134.80, as analysts factor in updated views on fair value, profitability, and modestly stronger revenue assumptions following recent target moves and mixed rating actions across the Street. Analyst Commentary Recent Street research on Svenska Handelsbanken points to a mixed setup, with some analysts lifting price targets while others turn more cautious on the shares and rating.
Narrative Update • Mar 12

SHB A: Future Returns Will Depend On Dividend Policy And Earnings Durability

Analysts have nudged their average price targets for Svenska Handelsbanken higher into the SEK 142 to SEK 144 range, citing updated views on earnings sustainability and valuation, even as one firm has turned more cautious on the shares. Analyst Commentary Recent research updates show a mixed but constructive tone around Svenska Handelsbanken, with several firms adjusting price targets in a relatively tight SEK 142 to SEK 144 band and one downgrade adding a more cautious voice.
Narrative Update • Feb 25

SHB A: Future Returns Will Depend On Margins And Dividend Commitment

The analyst price target for Svenska Handelsbanken has been nudged higher to SEK 134.80 from SEK 133.73, reflecting updated views on slightly firmer profit margins and P/E assumptions, along with recent price target moves from banks such as Morgan Stanley and JPMorgan. Analyst Commentary Recent research on Svenska Handelsbanken points to a mixed view, with some large banks nudging targets higher while at least one house has turned more cautious on the shares.
Narrative Update • Feb 11

SHB A: Future Returns Will Rely On Margins And Dividend Payout Stability

Analysts have nudged their fair value estimate for Svenska Handelsbanken up by about SEK 2 per share to reflect updated assumptions around revenue growth, profit margins and a slightly lower forward P/E, despite a mix of recent research views that includes a higher SEK 142 price target from Morgan Stanley and a downgrade from SEB Equities. Analyst Commentary Bullish Takeaways Bullish analysts point to the raised SEK 142 price target as support for upside potential relative to previous assumptions, even with an Underweight rating still in place.
Narrative Update • Jan 27

SHB A: Future Returns Will Rely On Margins As Cautious Stance Persists

The analyst price target for Svenska Handelsbanken has been updated from SEK 126.79 to SEK 131.73, supported by recent Street research in which analysts raised a key target to SEK 142 in their latest review. Analyst Commentary Recent Street research has lifted the top end of published targets to SEK 142, while keeping a cautious rating on the shares.
Narrative Update • Jan 08

SHB A: Future Returns Will Rely On Margins As Neutral Stance Persists

Narrative Update The updated analyst price target for Svenska Handelsbanken moves slightly higher to around SEK 127, supported by recent Street research. Analysts have cited revised targets of SEK 122 and SEK 128, alongside stable assumptions for discount rate, revenue growth, profit margin and future P/E.
Narrative Update • Dec 24

SHB A: Future Returns Will Rely On Margins As Revenue Expectations Cool

Svenska Handelsbanken's analyst price target has inched higher to SEK 128 from SEK 122, as analysts point to slightly firmer profitability expectations that more than offset tempered revenue growth assumptions. Analyst Commentary Recent price target increases reflect a generally balanced stance among the analyst community, with modest upgrades aligning with incremental improvements in profitability expectations rather than a major shift in growth outlook.
Narrative Update • Dec 10

SHB A: Future Returns Will Depend On Margins Amid Slower Revenue Outlook

Analysts have nudged up their price target on Svenska Handelsbanken from SEK 122 to SEK 128, reflecting slightly stronger profitability expectations even as revenue growth forecasts are trimmed. Analyst Commentary Recent price target revisions indicate that bullish analysts see modestly improved fundamentals at Svenska Handelsbanken, even as they temper expectations for top line expansion.
Narrative Update • Nov 26

SHB A: Sector Momentum And Profit Margins Will Guide Share Performance Ahead

Analysts have modestly raised their price target for Svenska Handelsbanken, increasing it by SEK 6 to SEK 128. They cite stable profit margins and ongoing positive sector re-ratings, despite only slight adjustments in growth expectations.
Narrative Update • Nov 10

SHB A: Price Momentum And Revenue Outlook Will Shape Near-Term Performance

Analysts have slightly reduced their fair value estimate for Svenska Handelsbanken to SEK 124.86 from SEK 125. This change reflects recent moderation in revenue growth projections and shifts in discount rate assumptions.
Narrative Update • Oct 27

Revenue Expectations Will Improve as Market Confidence and Risks Persist

The analyst consensus fair value estimate for Svenska Handelsbanken has been revised upward to SEK 125.0 from SEK 123.2. Analysts cite improved revenue growth expectations as the key driver for the modest increase in price target. Analyst Commentary Recent updates from equity research have highlighted both positive and cautious perspectives on Svenska Handelsbanken’s outlook, focusing on valuation adjustments, execution, and projected growth.
Narrative Update • Oct 13

Anticipated Revenue Declines And Shrinking Margins Could Harm Profitability

The analyst price target for Svenska Handelsbanken has increased from SEK 121.64 to SEK 123.20. Analysts cite updated sector research and shifts in ratings as key drivers for the adjustment.
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New Narrative • Nov 07

Operational Efficiency Woes And Dwindling Revenues Spell Trouble For Banking Sector Earnings

Marginal risk reduction from the banking package could maintain high capital levels, potentially suppressing return on equity growth.

Earnings and Revenue Growth Forecasts

OM:SHB A - Analysts future estimates and past financials data (SEK Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202860,03524,401N/AN/A14
12/31/202758,08723,543N/AN/A15
12/31/202656,52922,698N/AN/A15
3/31/202655,72424,029-67,378-66,344N/A
12/31/202557,11823,993-62,203-61,110N/A
9/30/202559,27325,07964,41965,937N/A
6/30/202560,80426,096109,599111,088N/A
3/31/202562,55527,14698,783100,308N/A
12/31/202462,96027,21780,13681,763N/A
9/30/202462,51026,978201,650203,332N/A
6/30/202463,06627,523144,755146,541N/A
3/31/202462,58227,708155,148156,939N/A
12/31/202362,12927,89847,58549,374N/A
9/30/202360,31627,190-190,070-188,227N/A
6/30/202357,09325,234-218,969-217,267N/A
3/31/202352,98522,598-191,128-189,507N/A
12/31/202250,35021,396-67,367-65,870N/A
9/30/202248,14020,444-214,896-213,007N/A
6/30/202246,07919,693-149,180-147,303N/A
3/31/202246,05220,060-285,885-284,146N/A
12/31/202144,24818,834-123,346-121,613N/A
9/30/202140,04316,874-41,566-40,444N/A
6/30/202140,04815,320-134,087-132,874N/A
3/31/202139,60114,773-19,974-18,539N/A
12/31/202039,72414,556-26,418-24,678N/A
9/30/202043,39015,596143,964146,101N/A
6/30/202043,34915,845258,231260,417N/A
3/31/202043,67416,104134,580136,858N/A
12/31/201943,53916,922N/A-86,960N/A
9/30/201943,10216,557N/A-102,967N/A
6/30/201942,67817,092N/A-153,484N/A
3/31/201943,24118,106N/A14,481N/A
12/31/201842,90317,354N/A10,142N/A
9/30/201842,16217,099N/A-158,733N/A
6/30/201841,69717,166N/A-202,375N/A
3/31/201840,33515,991N/A-215,036N/A
12/31/201740,00516,099N/A-72,740N/A
9/30/201739,24515,783N/A-25,963N/A
6/30/201739,21316,175N/A-114,359N/A
3/31/201738,85316,305N/A-171,334N/A
12/31/201639,07116,231N/A-71,428N/A
9/30/201640,20017,244N/A178,872N/A
6/30/201639,20416,382N/A326,476N/A
3/31/201639,37316,342N/A286,058N/A
12/31/201538,74616,197N/A-3,883N/A
9/30/201537,16915,116N/A-199,246N/A
6/30/201537,29615,296N/A-234,082N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SHB A's forecast earnings growth (1.1% per year) is below the savings rate (2%).

Earnings vs Market: SHB A's earnings (1.1% per year) are forecast to grow slower than the Swedish market (8.5% per year).

High Growth Earnings: SHB A's earnings are forecast to grow, but not significantly.

Revenue vs Market: SHB A's revenue (2.6% per year) is forecast to grow faster than the Swedish market (-0.01% per year).

High Growth Revenue: SHB A's revenue (2.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SHB A's Return on Equity is forecast to be low in 3 years time (12.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/15 07:26
End of Day Share Price 2026/05/13 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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

Svenska Handelsbanken AB (publ) is covered by 32 analysts. 15 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
Namita SamtaniBarclays
Christoffer Eric RosquistBarclays