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Market Cap

kr43.0b

Last Updated

2021/04/19 17:47 UTC

Data Sources

Company Financials +

Executive Summary

Nordnet AB (publ) engages in the investments and savings, pensions, and loans businesses in Sweden, Norway, Denmark, and Finland. More Details


Snowflake Analysis

Solid track record with moderate growth potential.


Similar Companies

Share Price & News

How has Nordnet's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SAVE is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: Insufficient data to determine SAVE's volatility change over the past year.


Market Performance


7 Day Return

7.6%

SAVE

2.2%

SE Capital Markets

2.0%

SE Market


1 Year Return

n/a

SAVE

134.3%

SE Capital Markets

61.8%

SE Market

Return vs Industry: Insufficient data to determine how SAVE performed against the Swedish Capital Markets industry.

Return vs Market: Insufficient data to determine how SAVE performed against the Swedish Market.


Shareholder returns

SAVEIndustryMarket
7 Day7.6%2.2%2.0%
30 Day16.1%16.4%7.0%
90 Day30.4%40.2%16.2%
1 Yearn/a137.2%134.3%65.8%61.8%
3 Yearn/a146.8%126.6%74.2%55.6%
5 Yearn/a171.4%133.1%109.4%68.3%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Nordnet undervalued compared to its fair value and its price relative to the market?

36.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SAVE (SEK168) is trading above our estimate of fair value (SEK79.53)

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


Price To Earnings Ratio

PE vs Industry: SAVE is poor value based on its PE Ratio (37x) compared to the SE Capital Markets industry average (34.2x).

PE vs Market: SAVE is poor value based on its PE Ratio (37x) compared to the Swedish market (27.1x).


Price to Earnings Growth Ratio

PEG Ratio: SAVE is poor value based on its PEG Ratio (3.7x)


Price to Book Ratio

PB vs Industry: SAVE is overvalued based on its PB Ratio (10x) compared to the SE Capital Markets industry average (1.8x).


Future Growth

How is Nordnet forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAVE's forecast earnings growth (10% per year) is above the savings rate (0.4%).

Earnings vs Market: SAVE's earnings (10% per year) are forecast to grow faster than the Swedish market (8.1% per year).

High Growth Earnings: SAVE's earnings are forecast to grow, but not significantly.

Revenue vs Market: SAVE's revenue is expected to decline over the next 3 years (-0.3% per year).

High Growth Revenue: SAVE's revenue is forecast to decline over the next 3 years (-0.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SAVE's Return on Equity is forecast to be high in 3 years time (28.4%)


Past Performance

How has Nordnet performed over the past 5 years?

26.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SAVE has high quality earnings.

Growing Profit Margin: SAVE's current net profit margins (35.2%) are higher than last year (17.2%).


Past Earnings Growth Analysis

Earnings Trend: SAVE's earnings have grown significantly by 26.6% per year over the past 5 years.

Accelerating Growth: SAVE's earnings growth over the past year (260.7%) exceeds its 5-year average (26.6% per year).

Earnings vs Industry: SAVE earnings growth over the past year (260.7%) exceeded the Capital Markets industry 41.5%.


Return on Equity

High ROE: Whilst SAVE's Return on Equity (27.84%) is high, this metric is skewed due to their high level of debt.


Financial Health

How is Nordnet's financial position?


Financial Position Analysis

Short Term Liabilities: SAVE's short term assets (SEK31.4B) do not cover its short term liabilities (SEK60.9B).

Long Term Liabilities: SAVE's short term assets (SEK31.4B) do not cover its long term liabilities (SEK102.9B).


Debt to Equity History and Analysis

Debt Level: SAVE's debt to equity ratio (1247.8%) is considered high.

Reducing Debt: SAVE's debt to equity ratio has increased from 1043.5% to 1247.8% over the past 5 years.

Debt Coverage: SAVE's debt is well covered by operating cash flow (22.6%).

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


Balance Sheet


Dividend

What is Nordnet current dividend yield, its reliability and sustainability?

0.90%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SAVE's dividend (0.9%) isn’t notable compared to the bottom 25% of dividend payers in the Swedish market (1.19%).

High Dividend: SAVE's dividend (0.9%) is low compared to the top 25% of dividend payers in the Swedish market (3.41%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether SAVE's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if SAVE's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.2%), SAVE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SAVE's dividends in 3 years are forecast to be covered by earnings (74.6% payout ratio).


Next Steps

Management

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

2.3yrs

Average management tenure


CEO

Lars-Ake Norling (52 yo)

2.25yrs

Tenure

Mr. Lars-Åke Valdemar Norling has been the CEO of Nordnet AB (publ) since 2019. Mr. Norling is the Chief Executive Officer of Nordnet Bank AB. He has been an Independent Board Member of Tele2 AB since Sept...


Leadership Team

Experienced Management: SAVE's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: SAVE's board of directors are considered experienced (4.3 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: SAVE only recently listed within the past 12 months.


Top Shareholders

Company Information

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


Key Information

  • Name: Nordnet AB (publ)
  • Ticker: SAVE
  • Exchange: OM
  • Founded: 1996
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: kr43.000b
  • Shares outstanding: 250.00m
  • Website: https://nordnetab.com

Number of Employees


Location

  • Nordnet AB (publ)
  • Alströmergatan 39
  • Box 300 99
  • Stockholm
  • Stockholm County
  • 104 25
  • Sweden

Listings


Biography

Nordnet AB (publ) engages in the investments and savings, pensions, and loans businesses in Sweden, Norway, Denmark, and Finland. The company offers digital platform for savings and investment products, su...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/19 17:47
End of Day Share Price2021/04/19 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.