Svenska Handelsbanken AB (publ)

OM:SHB A Stock Report

Market Cap: SEK 259.4b

Svenska Handelsbanken Past Earnings Performance

Past criteria checks 2/6

Svenska Handelsbanken has been growing earnings at an average annual rate of 9.5%, while the Banks industry saw earnings growing at 15.3% annually. Revenues have been growing at an average rate of 8.5% per year. Svenska Handelsbanken's return on equity is 14%, and it has net margins of 43.1%.

Key information

9.53%

Earnings growth rate

9.53%

EPS growth rate

Banks Industry Growth14.23%
Revenue growth rate8.54%
Return on equity13.95%
Net Margin43.12%
Next Earnings Update15 Jul 2026

Recent past performance updates

Recent 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...
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.
User avatar
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.

Revenue & Expenses Breakdown

How Svenska Handelsbanken makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

OM:SHB A Revenue, expenses and earnings (SEK Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 2655,72424,02916,7960
31 Dec 2557,11823,99316,8920
30 Sep 2559,27325,07917,0870
30 Jun 2560,80426,09617,2490
31 Mar 2562,55527,14617,3660
31 Dec 2462,96027,21717,2690
30 Sep 2462,51026,97816,7710
30 Jun 2463,06627,52316,1900
31 Mar 2462,58227,70815,7650
31 Dec 2362,12927,89815,3060
30 Sep 2360,31627,19015,0980
30 Jun 2357,09325,23415,0080
31 Mar 2352,98522,59814,6490
31 Dec 2250,35021,39614,4280
30 Sep 2248,14020,44414,2690
30 Jun 2246,07919,69314,1880
31 Mar 2246,05220,06013,0440
31 Dec 2144,24818,83414,3010
30 Sep 2140,04316,87413,0950
30 Jun 2140,04815,32013,4230
31 Mar 2139,60114,77314,9750
31 Dec 2039,72414,55614,1290
30 Sep 2043,39015,59615,5080
30 Jun 2043,34915,84515,4910
31 Mar 2043,67416,10415,5360
31 Dec 1943,53916,92215,4120
30 Sep 1943,10216,55715,2090
30 Jun 1942,67817,09214,9910
31 Mar 1943,24118,10614,6180
31 Dec 1842,90317,35414,3140
30 Sep 1842,16217,09914,5950
30 Jun 1841,69717,16613,8610
31 Mar 1840,33515,99113,4500
31 Dec 1740,00516,09913,2640
30 Sep 1739,24515,78313,1970
30 Jun 1739,21316,17513,3970
31 Mar 1738,85316,30513,3200
31 Dec 1639,07116,23113,1140
30 Sep 1640,20017,24413,4610
30 Jun 1639,20416,38213,4620
31 Mar 1639,37316,34213,6620
31 Dec 1538,74616,19713,8140
30 Sep 1537,16915,1169,8170
30 Jun 1537,29615,29610,9680

Quality Earnings: SHB A has high quality earnings.

Growing Profit Margin: SHB A's current net profit margins (43.1%) are lower than last year (43.4%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SHB A's earnings have grown by 9.5% per year over the past 5 years.

Accelerating Growth: SHB A's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SHB A had negative earnings growth (-11.5%) over the past year, making it difficult to compare to the Banks industry average (4.7%).

Return on Equity

High ROE: SHB A's Return on Equity (14%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 17:56
End of Day Share Price 2026/05/11 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