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Swedbank

OM:SWED A
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SWED A
OM
SEK160B
Market Cap
  1. Home
  2. SE
  3. Banks
Company description

Swedbank AB (publ) provides various banking products and services to private, corporate, and organizational customers. The last earnings update was 25 days ago. More info.


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  • Swedbank has significant price volatility in the past 3 months.
SWED A Share Price and Events
7 Day Returns
-0.3%
OM:SWED A
-1.4%
SE Banks
0.8%
SE Market
1 Year Returns
-25.4%
OM:SWED A
-14.5%
SE Banks
-0.6%
SE Market
SWED A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Swedbank (SWED A) -0.3% -7.3% -31.9% -25.4% -17.5% -18%
SE Banks -1.4% -5.7% -18.3% -14.5% -4.7% -24.9%
SE Market 0.8% -2.3% 2.2% -0.6% 14.3% 18.2%
1 Year Return vs Industry and Market
  • SWED A underperformed the Banks industry which returned -14.5% over the past year.
  • SWED A underperformed the Market in Sweden which returned -0.6% over the past year.
Price Volatility
SWED A
Industry
5yr Volatility vs Market

Value

 Is Swedbank undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Swedbank to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Swedbank.

OM:SWED A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 15 analysts.
= Stable Book Value * Return on Equity
= SEK129.63 * 14.3%
SEK18.52
Book Value of Equity per Share Weighted future Book Value estimates from 13 analysts. SEK129.63
Discount Rate (Cost of Equity) See below 12.4%
Perpetual Growth Rate 10-Year SE Government Bond Rate 0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OM:SWED A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 22%) (676.77%))
2.795
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (2 * 5.96%)
12.35%

Discounted Cash Flow Calculation for OM:SWED A using Excess Returns Model Model

The calculations below outline how an intrinsic value for Swedbank is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OM:SWED A Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.3% – 12.35%) * SEK129.63)
SEK2.50
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SEK2.50 / (12.35% - 0.43%)
SEK20.99
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SEK129.63 + SEK20.99
SEK150.62
OM:SWED A Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK150.62
Current discount Discount to share price of SEK143.50
= -1 x (SEK143.50 - SEK150.62) / SEK150.62
4.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Swedbank is available for.
Intrinsic value
5%
Share price is SEK143.5 vs Future cash flow value of SEK150.62
Current Discount Checks
For Swedbank to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Swedbank's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Swedbank's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Swedbank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Swedbank's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:SWED A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK19.16
OM:SWED A Share Price ** OM (2019-05-20) in SEK SEK143.5
Sweden Banks Industry PE Ratio Median Figure of 5 Publicly-Listed Banks Companies 8.79x
Sweden Market PE Ratio Median Figure of 323 Publicly-Listed Companies 16.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Swedbank.

OM:SWED A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:SWED A Share Price ÷ EPS (both in SEK)

= 143.5 ÷ 19.16

7.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swedbank is good value based on earnings compared to the SE Banks industry average.
  • Swedbank is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does Swedbank's expected growth come at a high price?
Raw Data
OM:SWED A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
2.7%per year
Sweden Banks Industry PEG Ratio Median Figure of 5 Publicly-Listed Banks Companies 1.16x
Sweden Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

OM:SWED A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.49x ÷ 2.7%

2.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swedbank is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Swedbank's assets?
Raw Data
OM:SWED A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK113.03
OM:SWED A Share Price * OM (2019-05-20) in SEK SEK143.5
Sweden Banks Industry PB Ratio Median Figure of 5 Publicly-Listed Banks Companies 1.39x
Sweden Market PB Ratio Median Figure of 568 Publicly-Listed Companies 2.49x
OM:SWED A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:SWED A Share Price ÷ Book Value per Share (both in SEK)

= 143.5 ÷ 113.03

1.27x

* Primary Listing of Swedbank.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swedbank is good value based on assets compared to the SE Banks industry average.
X
Value checks
We assess Swedbank's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Swedbank has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Swedbank expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Swedbank expected to grow at an attractive rate?
  • Swedbank's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Swedbank's earnings growth is positive but not above the Sweden market average.
  • Swedbank's revenue growth is positive but not above the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:SWED A Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:SWED A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 2.7%
OM:SWED A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 2.6%
Sweden Banks Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
Sweden Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 8.6%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OM:SWED A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:SWED A Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 48,899 21,707 1
2021-12-31 47,257 20,927 16
2020-12-31 46,059 20,324 17
2019-12-31 44,870 19,567 15
OM:SWED A Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 44,287 -154,043 21,399
2018-12-31 43,701 -29,460 21,162
2018-09-30 43,979 -32,990 21,309
2018-06-30 43,103 -176,566 20,527
2018-03-31 41,164 46,139 19,259
2017-12-31 40,918 -2,755 19,350
2017-09-30 39,842 -10,370 18,755
2017-06-30 39,498 141,441 18,828
2017-03-31 40,657 -9,919 20,352
2016-12-31 39,454 -91,890 19,539
2016-09-30 39,158 -56,577 19,222
2016-06-30 38,423 -68,226 18,345

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Swedbank's earnings are expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
  • Swedbank's revenue is expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OM:SWED A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Swedbank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SWED A Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 19.40 19.40 19.40 1.00
2021-12-31 18.59 21.30 17.10 15.00
2020-12-31 18.03 20.40 16.75 17.00
2019-12-31 17.37 18.04 16.84 15.00
OM:SWED A Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 19.16
2018-12-31 18.96
2018-09-30 19.10
2018-06-30 18.41
2018-03-31 17.29
2017-12-31 17.38
2017-09-30 16.86
2017-06-30 16.94
2017-03-31 18.32
2016-12-31 17.60
2016-09-30 17.34
2016-06-30 16.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Swedbank is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Swedbank's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Swedbank has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Swedbank performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Swedbank's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Swedbank's year on year earnings growth rate has been positive over the past 5 years.
  • Swedbank's 1-year earnings growth exceeds its 5-year average (11.1% vs 6.6%)
  • Swedbank's earnings growth has not exceeded the SE Banks industry average in the past year (11.1% vs 18.6%).
Earnings and Revenue History
Swedbank's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Swedbank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:SWED A Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 44,287.00 21,399.00 17,153.00
2018-12-31 43,701.00 21,162.00 16,954.00
2018-09-30 43,979.00 21,309.00 16,541.00
2018-06-30 43,103.00 20,527.00 16,464.00
2018-03-31 41,164.00 19,259.00 16,212.00
2017-12-31 40,918.00 19,350.00 16,000.00
2017-09-30 39,842.00 18,755.00 15,807.00
2017-06-30 39,498.00 18,828.00 15,738.00
2017-03-31 40,657.00 20,352.00 15,665.00
2016-12-31 39,454.00 19,539.00 15,516.00
2016-09-30 39,158.00 19,222.00 16,000.00
2016-06-30 38,423.00 18,345.00 15,915.00
2016-03-31 36,580.00 15,773.00 15,993.00
2015-12-31 37,030.00 15,733.00 16,218.00
2015-09-30 37,062.00 15,706.00 16,440.00
2015-06-30 37,873.00 16,329.00 16,721.00
2015-03-31 38,528.00 17,000.00 17,435.00
2014-12-31 38,389.00 16,709.00 17,472.00
2014-09-30 38,983.00 16,571.00 17,455.00
2014-06-30 38,349.00 16,196.00 17,304.00
2014-03-31 37,276.00 15,306.00 16,655.00
2013-12-31 36,878.00 13,519.00 16,490.00
2013-09-30 36,457.00 13,281.00 16,385.00
2013-06-30 36,111.00 12,789.00 16,300.00
2013-03-31 36,307.00 13,802.00 16,292.00
2012-12-31 36,453.00 14,294.00 16,420.00
2012-09-30 35,304.00 11,834.00 17,529.00
2012-06-30 35,121.00 11,614.00 18,511.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Swedbank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Swedbank used its assets more efficiently than the SE Banks industry average last year based on Return on Assets.
  • Unable to establish if Swedbank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Swedbank's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Swedbank has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Swedbank's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Swedbank's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Swedbank Company Filings, last reported 1 month ago.

OM:SWED A Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 126,601.00 1,085,927.00 372,007.00
2018-12-31 137,609.00 927,719.00 246,680.00
2018-09-30 133,890.00 1,117,378.00 432,177.00
2018-06-30 128,272.00 1,251,841.00 578,979.00
2018-03-31 122,748.00 1,127,567.00 505,412.00
2017-12-31 133,572.00 992,674.00 301,859.00
2017-09-30 129,062.00 1,157,905.00 457,877.00
2017-06-30 124,178.00 1,170,889.00 562,554.00
2017-03-31 119,627.00 1,213,264.00 554,809.00
2016-12-31 129,705.00 1,037,239.00 283,995.00
2016-09-30 124,183.00 1,181,959.00 448,397.00
2016-06-30 119,472.00 1,207,619.00 547,929.00
2016-03-31 126,032.00 1,125,794.00 560,209.00
2015-12-31 123,342.00 1,074,605.00 481,516.00
2015-09-30 119,019.00 1,225,168.00 460,209.00
2015-06-30 114,123.00 1,120,655.00 423,282.00
2015-03-31 107,058.00 1,180,475.00 438,888.00
2014-12-31 117,373.00 1,126,884.00 496,267.00
2014-09-30 111,595.00 1,080,542.00 321,168.00
2014-06-30 107,800.00 1,053,988.00 308,375.00
2014-03-31 102,493.00 1,001,849.00 266,039.00
2013-12-31 109,705.00 935,007.00 366,800.00
2013-09-30 105,831.00 963,196.00 252,705.00
2013-06-30 101,403.00 971,794.00 334,839.00
2013-03-31 95,887.00 1,028,837.00 356,661.00
2012-12-31 103,186.00 1,017,869.00 437,253.00
2012-09-30 101,442.00 1,093,358.00 416,109.00
2012-06-30 98,544.00 1,037,210.00 301,287.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Swedbank has an acceptable proportion of non-loan assets held.
  • Swedbank's liabilities are made up of primarily higher risk sources of funding.
  • Swedbank has advanced significantly more loans than the customer deposits it holds (i.e. bank has borrowed additional funds to lend).
  • Swedbank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Swedbank has a low allowance for bad loans.
  • Swedbank has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Swedbank's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Swedbank has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Swedbank's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.9%
Current annual income from Swedbank dividends. Estimated to be 9.24% next year.
If you bought SEK2,000 of Swedbank shares you are expected to receive SEK198 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Swedbank's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.8%).
  • Swedbank's dividend is above the markets top 25% of dividend payers in Sweden (4.39%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OM:SWED A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
Europe Banks Industry Average Dividend Yield Market Cap Weighted Average of 137 Stocks 5.6%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 243 Stocks 3.2%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.1%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.8%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OM:SWED A Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 14.60 1.00
2021-12-31 13.77 16.00
2020-12-31 13.34 18.00
2019-12-31 12.54 15.00
OM:SWED A Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-03-28 14.200 9.599
2018-02-22 13.000 6.591
2018-02-06 13.000 6.416
2017-02-22 13.200 6.293
2017-02-02 13.200 5.783
2016-02-25 10.700 5.610
2015-02-23 11.350 5.889
2014-03-19 10.100 5.570
2013-01-30 9.900 6.139
2012-07-16 5.300 4.317
2012-02-14 5.300 4.930
2011-02-08 2.100 2.187
2009-10-20 0.000 0.000
2009-07-17 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Swedbank has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Swedbank only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Swedbank's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Swedbank's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Swedbank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Swedbank has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Swedbank's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Anders Karlsson
AGE 52
TENURE AS CEO 0.2 years
CEO Bio

Mr. Anders Karlsson serves as Acting President and Chief Executive Officer of Swedbank AB (publ) since March 28, 2019. Mr. Karlsson had been the Chief Financial Officer of Swedbank AB (publ) since June 18, 2016 until 2019. Mr. Karlsson serves as Group Chief Risk Officer of "Swedbank", AB. He has been the Chief Risk Officer of Swedbank Ab (publ), Finland Branch since 2013. He served as the Chief Risk Officer of Swedbank AB (publ) from September 1, 2013 to June 10, 2016. He served as Head of Group Risk Control at Swedbank from 2004 to 2008. He served as the Chief Financial Officer of Carnegie Investment Bank from 2009 to 2010. He has more than 20 years of experience within the financial industry. He served as Chief Risk Officer and Chief Financial Officer at D. Carnegie & Co AB (publ) since October 2008 and August 2009 respectively. He served in various Management Roles in Treasury and Capital Markets at Handelsbanken from 1992 to 1998. He served in Various Management Roles within risk and Head of Economic Capital och Basel II project at Swedbank from 1999 to 2004. He served as the Head of Group Risk Control at Swedbank from 2010 to 2011. He served as the Head of Market Risk, Capital and Credit Modelling at Swedbank Group from 2011 to 2013. He served as the Head of Risk at Swedbank Treasury and Large Corporates & Institutions since 2013. He served as the Chief Risk Officer of Swedbank AB since May 2010. Mr. Karlsson served as the Chief Risk Officer of Carnegie Investment Bank from October 2008 to 2009. He has various management positions within Swedbank since 1999 and his previous experiences include Volvo Car Finance in Brussels. He served as a Member of the Council at Swedbank AS. Mr. Karlsson has B.Sc. Business and Economics from the Stockholm School of Economics. He completed MSc.

CEO Compensation
  • Insufficient data for Anders to compare compensation growth.
  • Insufficient data for Anders to establish whether their remuneration is reasonable compared to companies of similar size in Sweden.
Management Team Tenure

Average tenure and age of the Swedbank management team in years:

4.5
Average Tenure
54
Average Age
  • The tenure for the Swedbank management team is about average.
Management Team

Anders Karlsson

TITLE
Acting President & CEO
AGE
52
TENURE
0.2 yrs

Niclas Olsson

TITLE
Head of Group Finance & Acting CFO
TENURE
0.1 yrs

Gregori Karamouzis

TITLE
Head of Investor Relations (Equity and Debt)

Gabriel Rodau

TITLE
Head of Group Communication

Carina Strand

TITLE
Head of HR
AGE
54
TENURE
1.6 yrs

Gith Bengtsson

TITLE
Head of HR Channels & Concepts
AGE
55
TENURE
6.3 yrs

Anders Ekedahl

TITLE
Head of Group IT
AGE
58
TENURE
11.3 yrs

Helo Meigas

TITLE
Chief Risk Officer
AGE
53
TENURE
9.7 yrs

Mikael Björknert

TITLE
Chief Strategy Officer & Acting Head of Swedish Banking
AGE
52
TENURE
8.8 yrs

Lars Friberg

TITLE
Head of Financial Institutions
AGE
56
TENURE
2.7 yrs
Board of Directors Tenure

Average tenure and age of the Swedbank board of directors in years:

2.2
Average Tenure
58
Average Age
  • The average tenure for the Swedbank board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ulrika Francke

TITLE
Chairman of the Board
COMPENSATION
SEK1M
AGE
62
TENURE
0.1 yrs

Siv Svensson

TITLE
Independent Director
COMPENSATION
SEK1M
AGE
61
TENURE
9.2 yrs

Magnus Uggla

TITLE
Independent Director
COMPENSATION
SEK980K
AGE
66
TENURE
2.2 yrs

Roger Ljung

TITLE
Employee Representative Director
AGE
51
TENURE
4.3 yrs

Bodil Eriksson

TITLE
Independent Director
COMPENSATION
SEK673K
AGE
55
TENURE
3.1 yrs

Peter Norman

TITLE
Independent Director
COMPENSATION
SEK1M
AGE
60
TENURE
3.1 yrs

Mats Granryd

TITLE
Independent Director
COMPENSATION
SEK803K
AGE
56
TENURE
2.2 yrs

Bo Johansson

TITLE
Director
COMPENSATION
SEK800K
AGE
53
TENURE
2.2 yrs

Anna Mossberg

TITLE
Director
COMPENSATION
SEK673K
AGE
46
TENURE
1.2 yrs

Kerstin Hermansson

TITLE
Director
AGE
61
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Swedbank insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
21. Feb 19 Buy Ola Laurin Individual 21. Feb 19 21. Feb 19 2,500 SEK167.55 SEK418,875
21. Feb 19 Buy Bosse Johansson Individual 21. Feb 19 21. Feb 19 1,000 SEK168.05 SEK168,050
21. Feb 19 Buy Anders Ekedahl Individual 21. Feb 19 21. Feb 19 1,500 SEK165.80 SEK248,700
20. Feb 19 Buy Ulrika Francke Individual 20. Feb 19 20. Feb 19 1,000 SEK183.17 SEK183,170
13. Feb 19 Sell Roger Ljung Individual 13. Feb 19 13. Feb 19 -120 SEK205.90 SEK-24,689
01. Feb 19 Buy Mats Granryd Individual 31. Jan 19 31. Jan 19 1,000 SEK204.30 SEK204,300
29. Jan 19 Buy Bosse Johansson Individual 29. Jan 19 29. Jan 19 500 SEK203.20 SEK101,600
23. Oct 18 Sell Roger Ljung Individual 23. Oct 18 23. Oct 18 -302 SEK196.70 SEK-59,403
23. Oct 18 Buy Lars-Erik Danielsson Individual 23. Oct 18 23. Oct 18 3,000 SEK196.15 SEK588,450
23. Oct 18 Buy Bosse Johansson Individual 23. Oct 18 23. Oct 18 1,000 SEK193.90 SEK193,900
08. Aug 18 Sell Ola Laurin Individual 08. Aug 18 08. Aug 18 -6,930 SEK204.81 SEK-1,419,313
X
Management checks
We assess Swedbank's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Swedbank has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Have Insiders Been Buying Swedbank AB (publ) (STO:SWED A) Shares This Year?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Swedbank Swedbank Insider Transactions Over The Last Year The , Ola Laurin, made the biggest insider sale in the last 12 months. … OM:SWED A Recent Insider Trading, May 14th 2019 Swedbank is not the only stock that insiders are buying. … Swedbank Insiders Bought Stock Recently Over the last quarter, Swedbank insiders have spent a meaningful amount on shares.

Simply Wall St -

Can These Factors Give You An Edge In Swedbank AB (publ) (STO:SWED A)?

Following the crisis, a set of reforms termed Basel III was enforced to bolster risk management, regulation, and supervision in the financial services industry. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … As a large bank in SEK, SWED A is exposed to strict regulation which has focused investor attention on the type and level of risks it is subjected to, and higher scrutiny on its risk-taking behaviour.

Simply Wall St -

Company Info

Description

Swedbank AB (publ) provides various banking products and services to private, corporate, and organizational customers. The company operates through Swedish Banking, Baltic Banking, and Large Corporates & Institutions segments. It offers deposit and lending products; guarantees; non-life insurance products; brokerage and other securities; real estate brokerage; and asset management, financing, and life insurance and pension services. The company also offers investments and trading services, including equity, currency, fixed income, and equity trading services, as well as structured products; advisory and investment banking products and services, such as corporate financing, debt capital market, and loans and syndication services; and transaction banking services, such as cash management, trade finance, securities, commercial payments, account, and clearing and settlement services. In addition, it provides private banking products and services, such as saving accounts, credit and debit cards, mortgage finance, and investment advice, as well as trades in derivatives; and telephone, Internet, and mobile banking services. The company has 186 branches in Sweden, 33 branches in Estonia, 33 in Latvia, and 59 in Lithuania. It also operates in Norway, Finland, Denmark, Luxembourg, China, the United States, and South Africa. The company was formerly known as ForeningsSparbanken AB and changed its name to Swedbank AB (publ) in September 2006. Swedbank AB (publ) was founded in 1820 and is headquartered in Sundbyberg, Sweden.

Details
Name: Swedbank AB (publ)
SWED A
Exchange: OM
Founded: 1820
SEK160,457,963,116
1,118,173,959
Website: http://www.swedbank.com
Address: Swedbank AB (publ)
Landsvägen 40,
Sundbyberg,
Stockholm County, 172 63,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM SWED A Common Shares OMX Nordic Exchange Stockholm SE SEK 09. Jun 1995
OTCPK SWDB.F Common Shares Pink Sheets LLC US USD 09. Jun 1995
DB FRYA Common Shares Deutsche Boerse AG DE EUR 09. Jun 1995
LSE 0H6T Common Shares London Stock Exchange GB SEK 09. Jun 1995
SWX SWEDA Common Shares SIX Swiss Exchange CH CHF 09. Jun 1995
BATS-CHIXE SWEDAS Common Shares BATS 'Chi-X Europe' GB SEK 09. Jun 1995
OTCPK SWDB.Y SPD ADR Pink Sheets LLC US USD 26. Jun 2003
Number of employees
Current staff
Staff numbers
14,955
Swedbank employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 20:41
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.