TF Bank
TF Bank AB (publ) provides consumer banking services in Sweden, Finland, Norway, Denmark, Germany, Lithuania, Denmark, Estonia, Latvia, and Poland. The last earnings update was 31 days ago. More info.
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TFBANK Share Price and Events
7 Day Returns
1 Year Returns
TFBANK Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| TF Bank (TFBANK) | -9% | -9% | 6.7% | 32.5% | 19.7% | - |
| SE Banks | -5% | -15.8% | -14.9% | -32.6% | -21.1% | -42.3% |
| SE Market | -3.4% | -7% | -4% | -3.1% | 4.2% | 12.7% |
1 Year Return vs Industry and Market
- TFBANK outperformed the Banks industry which returned -32.6% over the past year.
- TFBANK outperformed the Market in Sweden which returned -3.1% over the past year.
TFBANK Value
Is TF Bank 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
TF Bank
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for TF Bank.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity = SEK24.42 * 27.7% |
SEK6.76 |
| Book Value of Equity per Share | Median Book Value from the past 5 years. | SEK24.42 |
| Discount Rate (Cost of Equity) | See below | 7.7% |
| 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.
| 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 | 0.56 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.559 (1 + (1- 22%) (4.32%)) |
1.213 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.21 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.213 * 5.96%) |
7.66% |
Discounted Cash Flow Calculation for OM:TFBANK using Excess Returns Model Model
The calculations below outline how an intrinsic value for TF Bank 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.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (27.7% – 7.66%) * SEK24.42) |
SEK4.88 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= SEK4.88 / (7.66% - 0.43%) |
SEK67.59 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= SEK24.42 + SEK67.59 |
SEK92.01 |
| Calculation | Result | |
|---|---|---|
| Value per share (SEK) | From above. | SEK92.01 |
| Current discount | Discount to share price of
SEK106.50
= -1 x (SEK106.50 - SEK92.01) / SEK92.01 |
-15.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of TF Bank is above its future cash flow value.
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 TF Bank's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
TF Bank's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-06-30) in SEK | SEK9.82 |
| OM:TFBANK Share Price ** | OM (2019-08-16) in SEK | SEK106.5 |
| Sweden Banks Industry PE Ratio | Median Figure of 5 Publicly-Listed Banks Companies | 9.39x |
| Sweden Market PE Ratio | Median Figure of 322 Publicly-Listed Companies | 15.61x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of TF Bank.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = OM:TFBANK Share Price ÷ EPS (both in SEK) = 106.5 ÷ 9.82 |
10.84x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- TF Bank is overvalued based on earnings compared to the SE Banks industry average.
- TF Bank is good value based on earnings compared to the Sweden market.
Price based on expected Growth
Does
TF Bank's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.84x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts |
19.4%per year |
| Sweden Banks Industry PEG Ratio | Median Figure of 5 Publicly-Listed Banks Companies | 0.97x |
| Sweden Market PEG Ratio | Median Figure of 235 Publicly-Listed Companies | 1.16x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 10.84x ÷ 19.4% |
0.56x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- TF Bank is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
TF Bank's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-06-30) in SEK | SEK36.48 |
| OM:TFBANK Share Price * | OM (2019-08-16) in SEK | SEK106.5 |
| Sweden Banks Industry PB Ratio | Median Figure of 5 Publicly-Listed Banks Companies | 1.24x |
| Sweden Market PB Ratio | Median Figure of 575 Publicly-Listed Companies | 2.5x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = OM:TFBANK Share Price ÷ Book Value per Share (both in SEK) = 106.5 ÷ 36.48 |
2.92x |
* Primary Listing of TF Bank.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- TF Bank is overvalued based on assets compared to the SE Banks industry average.
Value checks
We assess TF Bank's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) TF Bank has a total score of 2/6, 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.
TFBANK Future Performance
How is TF Bank expected to perform in the next 1 to 3 years based on estimates from 1 analyst?
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!
Earnings growth vs Low Risk Savings
- TF Bank's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
- TF Bank's earnings growth is expected to exceed the Sweden market average.
- TF Bank's revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| OM:TFBANK Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts | 19.4% |
| OM:TFBANK Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts | 26.3% |
| Sweden Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 5.8% |
| Sweden Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 3.1% |
| Sweden Market Earnings Growth Rate | Market Cap Weighted Average | 8.1% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1,124 | 336 | 1 | |
| 2020-12-31 | 953 | 273 | 1 | |
| 2019-12-31 | 773 | 217 | 1 |
| Date (Data in SEK Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-06-30 | 531 | -1,503 | 215 |
| 2019-03-31 | 504 | -1,337 | 201 |
| 2018-12-31 | 477 | -1,127 | 188 |
| 2018-09-30 | 446 | -1,120 | 166 |
| 2018-06-30 | 417 | -957 | 158 |
| 2018-03-31 | 398 | -685 | 155 |
| 2017-12-31 | 382 | -574 | 151 |
| 2017-09-30 | 372 | -485 | 147 |
| 2017-06-30 | 362 | -541 | 144 |
| 2017-03-31 | 346 | -624 | 127 |
| 2016-12-31 | 329 | -535 | 118 |
| 2016-09-30 | 311 | -431 | 99 |
*GAAP earnings excluding extraordinary items.
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 1 Analyst Estimates (S&P Global) | See Below |
All data from TF Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 15.61 | 15.61 | 15.61 | 1.00 |
| 2020-12-31 | 12.69 | 12.69 | 12.69 | 1.00 |
| 2019-12-31 | 10.10 | 10.10 | 10.10 | 1.00 |
| Date (Data in SEK Millions) | EPS * |
|---|---|
| 2019-06-30 | 9.82 |
| 2019-03-31 | 9.30 |
| 2018-12-31 | 8.75 |
| 2018-09-30 | 7.62 |
| 2018-06-30 | 7.34 |
| 2018-03-31 | 7.18 |
| 2017-12-31 | 7.04 |
| 2017-09-30 | 6.85 |
| 2017-06-30 | 6.68 |
| 2017-03-31 | 5.93 |
| 2016-12-31 | 5.47 |
| 2016-09-30 | 4.59 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess TF Bank's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Sweden market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
TF Bank has a total score of 5/6, 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.
TFBANK Past Performance
How has TF Bank 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
Past Earnings growth analysis
- TF Bank's year on year earnings growth rate has been positive over the past 5 years.
- TF Bank's 1-year earnings growth exceeds its 5-year average (36.1% vs 19.2%)
- TF Bank's earnings growth has exceeded the SE Banks industry average in the past year (36.1% vs 0.9%).
Earnings and Revenue History
All data from TF Bank Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SEK Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-06-30 | 531.28 | 214.79 | 265.14 | |
| 2019-03-31 | 504.41 | 201.38 | 257.46 | |
| 2018-12-31 | 477.37 | 188.13 | 247.54 | |
| 2018-09-30 | 445.68 | 166.00 | 230.10 | |
| 2018-06-30 | 417.13 | 157.80 | 213.87 | |
| 2018-03-31 | 398.00 | 154.51 | 200.08 | |
| 2017-12-31 | 382.23 | 151.46 | 189.29 | |
| 2017-09-30 | 372.08 | 147.26 | 188.56 | |
| 2017-06-30 | 361.67 | 143.51 | 184.86 | |
| 2017-03-31 | 346.22 | 127.47 | 178.67 | |
| 2016-12-31 | 329.23 | 117.50 | 170.13 | |
| 2016-09-30 | 311.32 | 98.55 | 169.56 | |
| 2016-06-30 | 298.61 | 83.05 | 162.79 | |
| 2016-03-31 | 288.65 | 93.78 | 150.41 | |
| 2015-12-31 | 279.97 | 93.24 | 143.42 | |
| 2015-09-30 | 261.47 | 103.79 | 116.95 | |
| 2015-06-30 | 238.20 | 108.66 | 116.31 | |
| 2015-03-31 | 232.89 | 99.65 | 111.80 | |
| 2014-12-31 | 234.02 | 99.54 | 105.59 | |
| 2013-12-31 | 194.72 | 86.32 | 83.82 | |
| 2012-12-31 | 201.40 | 66.31 | 105.10 |
*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.
- TF Bank has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- TF Bank used its assets more efficiently than the SE Banks industry average last year based on Return on Assets.
- Unable to establish if TF Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess TF Bank's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
TF Bank has a total score of 5/6, 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.
TFBANK Health
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.
Balance sheet
Assets
Liabilities and shares
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.
All data from TF Bank Company Filings, last reported 1 month ago.
| Date (Data in SEK Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-06-30 | 784.37 | 98.94 | 1,454.81 |
| 2019-03-31 | 779.17 | 98.76 | 1,588.50 |
| 2018-12-31 | 726.65 | 98.60 | 1,450.54 |
| 2018-09-30 | 667.03 | 98.39 | 1,602.12 |
| 2018-06-30 | 621.30 | 98.20 | 1,308.11 |
| 2018-03-31 | 525.07 | 98.02 | 1,301.16 |
| 2017-12-31 | 540.81 | 99.63 | 1,190.85 |
| 2017-09-30 | 534.41 | 97.60 | 1,164.91 |
| 2017-06-30 | 495.01 | 97.41 | 814.92 |
| 2017-03-31 | 500.31 | 97.23 | 605.82 |
| 2016-12-31 | 469.29 | 97.04 | 384.59 |
| 2016-09-30 | 431.72 | 97.45 | 389.31 |
| 2016-06-30 | 396.12 | 96.68 | 568.92 |
| 2016-03-31 | 375.39 | 99.07 | 845.62 |
| 2015-12-31 | 351.23 | 100.61 | 867.33 |
| 2015-09-30 | 330.54 | 0.00 | 740.51 |
| 2015-06-30 | 330.54 | 0.00 | 740.51 |
| 2015-03-31 | 272.22 | 0.00 | 657.82 |
| 2014-12-31 | 272.22 | 56.84 | 657.82 |
| 2013-12-31 | 238.91 | 24.50 | 584.25 |
| 2012-12-31 | 199.52 | 7.21 | 322.98 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- TF Bank has an acceptable proportion of non-loan assets held.
- TF Bank's liabilities are made up of primarily low risk sources of funding.
- Loans at TF Bank are broadly funded by customer deposits.
- TF Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- TF Bank has a sufficient allowance for bad loans.
- TF Bank has a high level of bad loans (greater than 2%).
Financial health checks
We assess TF Bank's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) TF Bank has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
TFBANK Dividends
What is TF Bank'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
If you bought
SEK2,000 of
TF Bank
shares you are expected to receive
SEK43
in your first year as a dividend.
Dividend Amount
- TF Bank's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.99%).
- TF Bank's dividend is below the markets top 25% of dividend payers in Sweden (4.63%).
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.
| 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 1 Analyst Estimates (S&P Global) | See Below |
| Europe Banks Industry Average Dividend Yield | Market Cap Weighted Average of 137 Stocks | 6.8% |
| Sweden Market Average Dividend Yield | Market Cap Weighted Average of 244 Stocks | 3.8% |
| Sweden Minimum Threshold Dividend Yield | 10th Percentile | 1.3% |
| Sweden Bottom 25% Dividend Yield | 25th Percentile | 2% |
| Sweden Top 25% Dividend Yield | 75th Percentile | 4.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SEK) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 5.46 | 1.00 |
| 2020-12-31 | 4.44 | 1.00 |
| 2019-12-31 | 3.54 | 1.00 |
| Date (Data in SEK) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-04 | 2.300 | 2.243 |
| 2018-03-23 | 2.250 | 2.835 |
| 2018-02-08 | 2.250 | 2.775 |
| 2017-03-28 | 2.200 | 2.342 |
| 2016-10-27 | 0.000 | 0.000 |
| 2016-07-19 | 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, TF Bank has been paying a dividend for less than 10 years.
- Dividend payments have increased, but TF Bank only paid a dividend in the past 2 years.
Income/ dividend checks
We assess TF Bank's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can TF Bank afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) TF Bank has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
TFBANK Management
CEO
| COMPENSATION | SEK3,942,000 |
| AGE | 47 |
| TENURE AS CEO | 1.8 years |
CEO Bio
Mr. Mattias Carlsson has been Chief Executive Officer of TF Bank AB since April 2018 and serves as its President. He served as Acting Chief Executive Officer of TF Bank AB from November 2017 to April 2018. Mr. Carlsson served as the Chairman of the Board at TF Bank AB from March 2015 to November 2017. He is a Director of BB Bank ASA, Avarda AB, Avarda Oy and Tronstad Consulting AB. He is Chairman of Smedslättens Tennisbanor Aktiebolag and Qred. Mr. Carlsson served as the Chief Executive Officer of TF Bank AB for 6 years. After four years as a consultant working with amongst other things data warehousing and customer relationship management systems for the financial industry, he joined Skandinaviska Enskilda Banken AB (SEB). During his seven years at Skandinaviska Enskilda Banken AB, He worked with the bank's retail products before leaving to join first Resurs Bank AB, as manager of their personal loan operations and then Time Finans AB (TF Bank) as Chief Executive Officer. He has been a Director of TF Bank AB since 2008. He graduated from Uppsala University in 1996 with a master's degree in engineering physics.
CEO Compensation
- Mattias's compensation has been consistent with company performance over the past year, both up more than 20%.
- Mattias's remuneration is higher than average for companies of similar size in Sweden.
Management Team Tenure
Average tenure and age of the TF Bank management team in years:
- The average tenure for the TF Bank management team is less than 2 years, this suggests a new team.
Management Team
Mattias Carlsson
President
SEK4M
47
1.8 yrs
Mikael Meomuttel
CFO, Deputy CEO & Head of Investor Relations
43
10.6 yrs
Espen Johannesen
Head of the Consumer Lending Segment
38
1.7 yrs
Mikael Johansson
Head of the Ecommerce Solutions Segment
45
1.7 yrs
Declan Mac Guinness
SEK2M
53
1.8 yrs
Board of Directors Tenure
Average tenure and age of the TF Bank board of directors in years:
- The tenure for the TF Bank board of directors is about average.
Board of Directors
Mari Thjømøe
Chairman of the Board
SEK117K
57
1.3 yrs
Mattias Carlsson
President
SEK4M
47
11.6 yrs
Tone Bjørnov
Director
SEK400K
58
3.7 yrs
John Brehmer
Director
SEK333K
54
9.6 yrs
Bertil Larsson
Independent Director
SEK250K
73
12.6 yrs
Charlotta Björnberg-Paul
Director
SEK300K
45
2.3 yrs
Per Weil
Member of Nomination Committee
52
11.6 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by TF Bank individual insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SEK) | Value (SEK) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 18. Jul 19 | Buy | John Brehmer | Individual | 17. Jul 19 | 17. Jul 19 | 800 | SEK119.00 | SEK95,200 | ||
| 07. Jan 19 | Buy | Tiberon Ab | Company | 04. Jan 19 | 04. Jan 19 | 156,855 | SEK74.20 | SEK11,638,640 | ||
| 28. Dec 18 | Buy | John Brehmer | Individual | 28. Dec 18 | 28. Dec 18 | 2,000 | SEK72.00 | SEK144,000 | ||
| 28. Dec 18 | Buy | Tiberon Ab | Company | 27. Dec 18 | 27. Dec 18 | 2,033,474 | SEK73.00 | SEK148,443,598 | ||
| 28. Dec 18 | Sell | TFB Holding AB | Company | 27. Dec 18 | 27. Dec 18 | -2,111,902 | SEK73.00 | SEK-154,168,841 | ||
Management checks
We assess TF Bank's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) TF Bank 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.
TFBANK News
Simply Wall St News
TF Bank AB (publ) (STO:TFBANK): Can Growth Justify Its April Share Price?
Help shape the future of investing tools and you could win a $250 gift card! … Looking at TF Bank AB (publ)’s (STO:TFBANK) fundamentals some investors are wondering if its last closing price of SEK102 represents a good value for money for this high growth stock. … Below I will be talking through a basic metric which will help answer this question.
Simply Wall St - – Full articleWhy TF Bank AB (publ) (STO:TFBANK) Should Be In Your Portfolio
Dividend paying stocks like TF Bank AB (publ) (STO:TFBANK) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … With only a two-year payment history, and a 2.5% yield, investors probably think TF Bank is not much of a dividend stock.
Simply Wall St - – Full articleTF Bank (STO:TFBANK) Shareholders Have Enjoyed A 13% Share Price Gain
For example, the TF Bank AB (publ) (STO:TFBANK) share price is up 13% in the last year, clearly besting than the market return of around 5.4% (not including dividends). … Note that businesses generally develop over the long term, so it the returns over the last year might not reflect a long term trend. … To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine.
Simply Wall St - – Full articleWhat Do Analysts Think About TF Bank AB (publ)'s (STO:TFBANK) Growth?
The latest earnings announcement TF Bank AB (publ) (STO:TFBANK) released in December 2018a … suggested
Simply Wall St - – Full articleHave Insiders Been Buying TF Bank AB (publ) (STO:TFBANK) Shares?
So we'll take a look at whether insiders have been buying or selling shares in TF Bank AB (publ) (STO:TFBANK). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In any event it's generally a positive if insiders are buying shares at around the current price
Simply Wall St - – Full articleThree Key Risks For TF Bank AB (publ) (STO:TFBANK) You Should Know
TF Bank AB (publ) (STO:TFBANK) is a small-cap bank with a market capitalisation of kr1.6b. … Since the level of risky assets held by the bank impacts the attractiveness of it as an investment, I will take you through three metrics that are insightful proxies for risk. … View our latest analysis for TF Bank
Simply Wall St - – Full articleThree Understated Metrics For TF Bank AB (publ) (STO:TFBANK) You Should Know
As a small-cap bank stock with a market capitalisation of kr1.5b, TF Bank AB (publ)’s (STO:TFBANK) risk and profitability are largely determined by the underlying economic growth of the SE regions in which it operates. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels.
Simply Wall St - – Full articleRead This Before Selling TF Bank AB (publ) (STO:TFBANK) Shares
So we'll take a look at whether insiders have been buying or selling shares in TF Bank AB (publ) (STO:TFBANK). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … John Brehmer was the only insider to buy shares in the last twelve months
Simply Wall St - – Full articleTF Bank AB (publ) (STO:TFBANK) Is Undervalued By 24.67%
This is because the rules banks face are different to other companies, which can impact the way we forecast their cash flows. … For instance, banks must hold a certain level of cash reserves on the books as a safety precaution.
Simply Wall St - – Full articleDoes The Hype Around TF Bank AB (publ)'s (STO:TFBANK) Growth Justify Its August Share Price?
TF Bank AB (publ) (STO:TFBANK) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of SEK84.6 is based on unrealistic expectations. … Let’s look into this by assessing TFBANK's expected growth over the next few years. … TF Bank is poised for significantly high earnings growth in the near future
Simply Wall St - – Full articleTFBANK Company Info
Description
TF Bank AB (publ) provides consumer banking services in Sweden, Finland, Norway, Denmark, Germany, Lithuania, Denmark, Estonia, Latvia, and Poland. The company operates through two segments, Consumer Lending and Ecommerce Solutions. It accepts deposits and offers unsecured loans, refinancing, and car loans. The company also provides financing solutions to e-commerce and retail traders for handling bill payments and installment payments, as well as credit cards. The company was founded in 1987 and is headquartered in Borås, Sweden.
Details
| Name: | TF Bank AB (publ) |
| TFBANK | |
| Exchange: | OM |
| Founded: | 1987 |
| SEK2,289,750,000 | |
| 21,500,000 | |
| Website: | http://www.tfbankgroup.com |
| Address: |
TF Bank AB (publ) Lilla Brogatan 6, Borås, Västra Götaland County, 501 10, Sweden |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| OM | TFBANK | Ordinary Shares | OMX Nordic Exchange Stockholm | SE | SEK | 14. Jun 2016 | |
| LSE | 0RHM | Ordinary Shares | London Stock Exchange | GB | SEK | 14. Jun 2016 |
Number of employees
Current staff
Industry
| Diversified Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/08/16 22:39 |
| End of day share price update: | 2019/08/16 00:00 |
| Last estimates confirmation: | 2019/07/17 |
| Last earnings filing: | 2019/07/16 |
| Last earnings reported: | 2019/06/30 |
| 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.
