Swedbank AB (publ)

OM:SWED A Stock Report

Market Cap: SEK 273.0b

Swedbank Valuation

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

Discounted Cash Flow
Simply Wall St
SEK 503.60
Fair Value
51.4% undervalued intrinsic discount
17
Number of Analysts

Below Fair Value: SWED A (SEK244.8) is trading below our estimate of fair value (SEK503.6)

Significantly Below Fair Value: SWED 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 SWED A?

Key metric: As SWED A is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SWED A. This is calculated by dividing SWED A's market cap by their current earnings.
What is SWED A's PE Ratio?
PE Ratio7.9x
EarningsSEK 34.87b
Market CapSEK 273.00b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SWED A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.3x
SHB A Svenska Handelsbanken
9.1x-6.0%SEK 247.8b
SEB A Skandinaviska Enskilda Banken
9x-4.3%SEK 321.5b
TFBANK TF Bank
13.1x17.4%SEK 8.0b
NORION Norion Bank
6.2x6.9%SEK 7.6b
SWED A Swedbank
7.9x-8.5%SEK 273.0b

Price-To-Earnings vs Peers: SWED A is good value based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (9.3x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SWED A 7.9xIndustry Avg. 8.3xNo. of Companies49PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SWED A is good value based on its Price-To-Earnings Ratio (7.9x) compared to the European Banks industry average (8.3x).

Price to Earnings Ratio vs Fair Ratio

What is SWED 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.

SWED A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.9x
Fair PE Ratio8.6x

Price-To-Earnings vs Fair Ratio: SWED A is good value based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).

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 SWED A forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 244.80
SEK 248.71
+1.6%
9.0%SEK 285.00SEK 199.00n/a17
Jan ’26SEK 218.30
SEK 237.38
+8.7%
7.5%SEK 271.00SEK 199.00n/a16
Dec ’25SEK 213.80
SEK 238.75
+11.7%
6.8%SEK 271.00SEK 214.00n/a16
Nov ’25SEK 218.90
SEK 237.92
+8.7%
6.5%SEK 264.00SEK 215.00n/a16
Oct ’25SEK 209.80
SEK 237.09
+13.0%
6.7%SEK 264.00SEK 200.00n/a17
Sep ’25SEK 219.40
SEK 236.53
+7.8%
6.6%SEK 256.52SEK 200.00n/a16
Aug ’25SEK 221.80
SEK 239.10
+7.8%
7.0%SEK 267.00SEK 200.00n/a16
Jul ’25SEK 222.60
SEK 234.40
+5.3%
7.4%SEK 260.00SEK 195.00n/a15
Jun ’25SEK 218.10
SEK 235.80
+8.1%
8.0%SEK 265.00SEK 195.00n/a15
May ’25SEK 212.40
SEK 236.20
+11.2%
8.3%SEK 270.00SEK 195.00n/a15
Apr ’25SEK 212.30
SEK 237.00
+11.6%
9.0%SEK 276.00SEK 195.00n/a15
Mar ’25SEK 229.10
SEK 235.95
+3.0%
9.8%SEK 276.00SEK 190.00n/a19
Feb ’25SEK 211.80
SEK 233.72
+10.4%
11.0%SEK 276.00SEK 190.00n/a18
Jan ’25SEK 203.30
SEK 235.72
+15.9%
11.8%SEK 287.00SEK 190.00SEK 218.3018
Dec ’24SEK 194.40
SEK 234.78
+20.8%
12.1%SEK 287.00SEK 185.00SEK 213.8018
Nov ’24SEK 180.65
SEK 233.84
+29.4%
11.9%SEK 287.00SEK 185.00SEK 218.9019
Oct ’24SEK 201.30
SEK 237.28
+17.9%
11.9%SEK 280.00SEK 185.00SEK 209.8018
Sep ’24SEK 194.10
SEK 236.50
+21.8%
11.3%SEK 280.00SEK 185.00SEK 219.4020
Aug ’24SEK 192.30
SEK 235.60
+22.5%
11.8%SEK 280.00SEK 175.00SEK 221.8020
Jul ’24SEK 181.85
SEK 228.65
+25.7%
12.8%SEK 275.00SEK 170.00SEK 222.6020
Jun ’24SEK 170.05
SEK 226.55
+33.2%
13.4%SEK 275.00SEK 170.00SEK 218.1020
May ’24SEK 178.00
SEK 229.35
+28.8%
12.9%SEK 275.00SEK 170.00SEK 212.4020
Apr ’24SEK 170.15
SEK 229.55
+34.9%
13.6%SEK 285.00SEK 170.00SEK 212.3020
Mar ’24SEK 209.70
SEK 228.95
+9.2%
13.7%SEK 285.00SEK 170.00SEK 229.1020
Feb ’24SEK 207.10
SEK 223.30
+7.8%
12.9%SEK 265.00SEK 170.00SEK 211.8020
Jan ’24SEK 177.30
SEK 207.35
+16.9%
12.5%SEK 255.00SEK 170.00SEK 203.3020
Analyst Price Target
Consensus Narrative from 17 Analysts
SEK 248.71
Fair Value
1.6% undervalued intrinsic discount
17
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/30 03:38
End of Day Share Price 2025/01/30 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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 here.

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 .

Analyst Sources

Swedbank AB (publ) is covered by 41 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
Pierre-Yves GauthierAlphaValue
Fridtjof BerentsArctic Securities ASA