Avanza Bank Holding AB (publ)

OM:AZA Stock Report

Market Cap: SEK 52.5b

Avanza Bank Holding Valuation

Is AZA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 AZA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
SEK 370.24
Fair Value
9.2% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: AZA (SEK336) is trading below our estimate of fair value (SEK370.24)

Significantly Below Fair Value: AZA is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AZA?

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

The above table shows the Price to Earnings ratio for AZA. This is calculated by dividing AZA's market cap by their current earnings.
What is AZA's PE Ratio?
PE Ratio23.4x
EarningsSEK 2.25b
Market CapSEK 52.49b

Price to Earnings Ratio vs Peers

How does AZA's PE Ratio compare to its peers?

The above table shows the PE ratio for AZA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.3x
SAVE Nordnet
24.4x8.0%SEK 66.4b
BURE Bure Equity
3xn/aSEK 29.4b
RATO B Ratos
11.8x25.7%SEK 11.4b
LUND B L E Lundbergföretagen
14.1xn/aSEK 131.6b
AZA Avanza Bank Holding
23.4x6.3%SEK 52.5b

Price-To-Earnings vs Peers: AZA is expensive based on its Price-To-Earnings Ratio (23.4x) compared to the peer average (13.3x).

Price to Earnings Ratio vs Industry

How does AZA's PE Ratio compare vs other companies in the European Capital Markets Industry?

14 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AZA 23.4xIndustry Avg. 14.0xNo. of Companies42PE01224364860+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: AZA is expensive based on its Price-To-Earnings Ratio (23.4x) compared to the European Capital Markets industry average (14x).

Price to Earnings Ratio vs Fair Ratio

What is AZA'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.

AZA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.4x
Fair PE Ratio22.4x

Price-To-Earnings vs Fair Ratio: AZA is expensive based on its Price-To-Earnings Ratio (23.4x) compared to the estimated Fair Price-To-Earnings Ratio (22.4x).

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 AZA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 336.00
SEK 298.67
-11.1%
19.6%SEK 400.00SEK 200.00n/a12
Jan ’26SEK 272.90
SEK 246.27
-9.8%
13.4%SEK 310.00SEK 193.00n/a11
Dec ’25SEK 234.00
SEK 242.60
+3.7%
15.8%SEK 310.00SEK 186.00n/a10
Nov ’25SEK 220.00
SEK 244.70
+11.2%
15.4%SEK 310.00SEK 186.00n/a10
Oct ’25SEK 253.60
SEK 247.10
-2.6%
15.8%SEK 310.00SEK 190.00n/a10
Sep ’25SEK 242.70
SEK 247.82
+2.1%
15.2%SEK 320.00SEK 192.00n/a11
Aug ’25SEK 235.90
SEK 247.82
+5.1%
15.2%SEK 320.00SEK 192.00n/a11
Jul ’25SEK 260.10
SEK 234.50
-9.8%
16.6%SEK 320.00SEK 185.00n/a10
Jun ’25SEK 274.00
SEK 227.90
-16.8%
17.9%SEK 320.00SEK 181.00n/a10
May ’25SEK 238.60
SEK 218.20
-8.5%
14.8%SEK 257.00SEK 165.00n/a10
Apr ’25SEK 230.90
SEK 198.56
-14.0%
11.3%SEK 227.00SEK 164.00n/a9
Mar ’25SEK 230.70
SEK 198.56
-13.9%
11.3%SEK 227.00SEK 164.00n/a9
Feb ’25SEK 208.40
SEK 197.44
-5.3%
11.1%SEK 227.00SEK 164.00SEK 334.209
Jan ’25SEK 233.50
SEK 192.78
-17.4%
9.3%SEK 210.00SEK 160.00SEK 272.909
Dec ’24SEK 205.90
SEK 191.33
-7.1%
10.2%SEK 210.00SEK 158.00SEK 234.009
Nov ’24SEK 187.00
SEK 193.78
+3.6%
11.6%SEK 230.00SEK 158.00SEK 220.009
Oct ’24SEK 189.40
SEK 201.25
+6.3%
11.3%SEK 230.00SEK 162.00SEK 253.608
Sep ’24SEK 209.50
SEK 202.25
-3.5%
11.6%SEK 230.00SEK 162.00SEK 242.708
Aug ’24SEK 234.80
SEK 200.75
-14.5%
11.6%SEK 230.00SEK 162.00SEK 235.908
Jul ’24SEK 219.50
SEK 215.67
-1.7%
18.0%SEK 300.00SEK 168.00SEK 260.109
Jun ’24SEK 228.60
SEK 215.44
-5.8%
18.1%SEK 300.00SEK 166.00SEK 274.009
May ’24SEK 217.70
SEK 215.56
-1.0%
17.8%SEK 300.00SEK 166.00SEK 238.609
Apr ’24SEK 243.00
SEK 218.78
-10.0%
18.1%SEK 305.00SEK 163.00SEK 230.909
Mar ’24SEK 277.60
SEK 219.56
-20.9%
17.6%SEK 305.00SEK 170.00SEK 230.709
Feb ’24SEK 251.80
SEK 203.63
-19.1%
11.8%SEK 240.00SEK 170.00SEK 208.408
Analyst Price Target
Consensus Narrative from 12 Analysts
SEK 298.67
Fair Value
12.5% overvalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/05 19:09
End of Day Share Price 2025/02/05 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.

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

Avanza Bank Holding AB (publ) is covered by 17 analysts. 11 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
Michael SandersonBarclays
Alexander MedhurstBarclays