OM:AZA

Stock Analysis Report

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Executive Summary

Avanza Bank Holding AB (publ), together with its subsidiaries, provides online stock trading services in Sweden.


Snowflake Analysis

Outstanding track record average dividend payer.


Similar Companies

Share Price & News

How has Avanza Bank Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AZA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.3%

AZA

-3.8%

SE Capital Markets

2.6%

SE Market


1 Year Return

101.5%

AZA

99.8%

SE Capital Markets

18.1%

SE Market

Return vs Industry: AZA exceeded the Swedish Capital Markets industry which returned 99.8% over the past year.

Return vs Market: AZA exceeded the Swedish Market which returned 18.1% over the past year.


Shareholder returns

AZAIndustryMarket
7 Day-4.3%-3.8%2.6%
30 Day4.4%8.3%5.1%
90 Day23.0%23.1%20.9%
1 Year107.9%101.5%106.1%99.8%20.0%18.1%
3 Year162.1%141.7%1.5%-7.9%32.5%18.5%
5 Year160.9%126.3%-11.1%-26.6%45.4%16.6%

Price Volatility Vs. Market

How volatile is Avanza Bank Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Avanza Bank Holding undervalued compared to its fair value and its price relative to the market?

29.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AZA (SEK162) is trading above our estimate of fair value (SEK92.89)

Significantly Below Fair Value: AZA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AZA is poor value based on its PE Ratio (29.4x) compared to the XE Capital Markets industry average (18.9x).

PE vs Market: AZA is poor value based on its PE Ratio (29.4x) compared to the Swedish market (22.2x).


Price to Earnings Growth Ratio

PEG Ratio: AZA's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: AZA is overvalued based on its PB Ratio (11.5x) compared to the SE Capital Markets industry average (1.6x).


Next Steps

Future Growth

How is Avanza Bank Holding forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-8.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AZA's earnings are forecast to decline over the next 3 years (-8.4% per year).

Earnings vs Market: AZA's earnings are forecast to decline over the next 3 years (-8.4% per year).

High Growth Earnings: AZA's earnings are forecast to decline over the next 3 years.

Revenue vs Market: AZA's revenue is expected to decline over the next 3 years (-3.5% per year).

High Growth Revenue: AZA's revenue is forecast to decline over the next 3 years (-3.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AZA's Return on Equity is forecast to be high in 3 years time (27.4%)


Next Steps

Past Performance

How has Avanza Bank Holding performed over the past 5 years?

8.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AZA has high quality earnings.

Growing Profit Margin: AZA's current net profit margins (43.3%) are higher than last year (27.8%).


Past Earnings Growth Analysis

Earnings Trend: AZA's earnings have grown by 8.5% per year over the past 5 years.

Accelerating Growth: AZA's earnings growth over the past year (138.2%) exceeds its 5-year average (8.5% per year).

Earnings vs Industry: AZA earnings growth over the past year (138.2%) exceeded the Capital Markets industry 20.7%.


Return on Equity

High ROE: AZA's Return on Equity (38.8%) is considered high.


Next Steps

Financial Health

How is Avanza Bank Holding's financial position?


Financial Position Analysis

Short Term Liabilities: AZA's short term assets (SEK18.0B) do not cover its short term liabilities (SEK46.9B).

Long Term Liabilities: AZA's short term assets (SEK18.0B) do not cover its long term liabilities (SEK124.9B).


Debt to Equity History and Analysis

Debt Level: AZA's debt to equity ratio (3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if AZA's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: AZA's debt is well covered by operating cash flow (11606.2%).

Interest Coverage: Insufficient data to determine if AZA's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Avanza Bank Holding current dividend yield, its reliability and sustainability?

1.42%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AZA's dividend (1.42%) is higher than the bottom 25% of dividend payers in the Swedish market (1.39%).

High Dividend: AZA's dividend (1.42%) is low compared to the top 25% of dividend payers in the Swedish market (4.89%).


Stability and Growth of Payments

Stable Dividend: AZA's dividend payments have been volatile in the past 10 years.

Growing Dividend: AZA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.8%), AZA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AZA's dividends in 3 years are forecast to be covered by earnings (66.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure


CEO

Rikard Josefson (55 yo)

3.58yrs

Tenure

Mr. Rikard Josefson has been the Chief Executive Officer of Avanza Bank Holding AB (publ) since 2017. Mr. Josefson has been the President of Länsförsäkringar Bank AB (publ) since June 2011. He served as Gl ...


Leadership Team

NamePositionTenureCompensationOwnership
Rikard Josefson
Chief Executive Officer3.58yrsno data0.013%
SEK 3.2m
Birgitta Hagenfeldt
Deputy CEO & CFO12.58yrsno data0.16%
SEK 40.2m
Gunnar Olsson
Chief Operating Officer2.42yrsno data0.0057%
SEK 1.4m
Peter Strömberg
Chief Information Officer5.92yrsno datano data
Sofia Svavar
Head of Investor Relationsno datano datano data
Teresa Schechter
Chief Legal Officer2.58yrsno datano data
Anna Casselblad
Head of Compliance3.33yrsno datano data
Peter Westling
Marketing Director2.58yrsno data0.0035%
SEK 869.5k
Camilla Hedenfelt
Head of Human Resources & Chief Human Resources Officer1.58yrsno datano data
Peter Aronsson
Head of Private Banking & Prono datano datano data
Åsa Söderlund
Chief Executive Officer of Försäkringsaktiebolaget Avanza Pension2.58yrsno data0.00016%
SEK 39.9k
Jesper Bonnivier
Chief Executive Officer of Avanza Fonder AB1.33yrsno data0.00013%
SEK 32.4k

2.6yrs

Average Tenure

50yo

Average Age

Experienced Management: AZA's management team is considered experienced (2.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Birgitta Klasén
Independent Director6.58yrskr568.00k0.036%
SEK 8.9m
Sven Hagströmer
Independent Chairman of the Board21.58yrskr447.00k0.029%
SEK 7.1m
Mattias Miksche
Independent Director12.58yrskr396.00k0.0091%
SEK 2.3m
Hans Toll
Independent Director6.58yrskr488.00k0.099%
SEK 24.6m
Viktor Fritzén
Independent Director2.42yrskr437.00k0.0032%
SEK 809.7k
Jonas Hagströmer
Independent Director5.42yrskr355.00k0.0097%
SEK 2.4m
Johan Roos
Director0.42yrno datano data
Magnus Dybeck
Director0.42yrno data4.19%
SEK 1.0b
Catharina Eklöf
Director0.42yrno datano data

5.4yrs

Average Tenure

51yo

Average Age

Experienced Board: AZA's board of directors are considered experienced (5.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AZA insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Avanza Bank Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Avanza Bank Holding AB (publ)
  • Ticker: AZA
  • Exchange: OM
  • Founded: 1999
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: kr24.913b
  • Shares outstanding: 153.79m
  • Website: https://www.avanza.se

Number of Employees


Location

  • Avanza Bank Holding AB (publ)
  • Regeringsgatan 103
  • Box 1399
  • Stockholm
  • Stockholm County
  • 111 93
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AZAOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKOct 1993
0NUKLSE (London Stock Exchange)YesOrdinary SharesGBSEKOct 1993
AZASBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBSEKOct 1993
1JJADB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1993

Biography

Avanza Bank Holding AB (publ), together with its subsidiaries, provides online stock trading services in Sweden. The company offers share and fund, investment savings, endowment insurance, endowment child ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/12 21:08
End of Day Share Price2020/08/12 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.