Skandinaviska Enskilda Banken AB (publ)

OM:SEB A Stock Report

Market Cap: SEK 360.6b

Skandinaviska Enskilda Banken Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of SEB A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: SEB A (SEK183.8) is trading below our estimate of future cash flow value (SEK354.02)

Significantly Below Future Cash Flow Value: SEB A is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SEB A. This is calculated by dividing SEB A's market cap by their current earnings.
What is SEB A's PE Ratio?
PE Ratio11.6x
EarningsSEK 31.06b
Market CapSEK 360.63b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SEB A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11x
SWED A Swedbank
11.4x1.12%SEK 373.0b
SHB A Svenska Handelsbanken
11.5x0.68%SEK 279.4b
NOBA NOBA Bank Group
13.2x13.67%SEK 45.1b
NORION Norion Bank
7.7x8.00%SEK 11.0b
SEB A Skandinaviska Enskilda Banken
11.6x4.03%SEK 360.6b

Price-To-Earnings vs Peers: SEB A is expensive based on its Price-To-Earnings Ratio (11.6x) compared to the peer average (11x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SEB A 11.6xIndustry Avg. 10.5xNo. of Companies44PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SEB A is expensive based on its Price-To-Earnings Ratio (11.6x) compared to the European Banks industry average (10.5x).

Price to Earnings Ratio vs Fair Ratio

What is SEB 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.

SEB A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.6x
Fair PE Ratio11.8x

Price-To-Earnings vs Fair Ratio: SEB A is good value based on its Price-To-Earnings Ratio (11.6x) compared to the estimated Fair Price-To-Earnings Ratio (11.8x).

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 SEB A forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 183.80
SEK 195.13
+6.16%
5.46%SEK 220.00SEK 175.00n/a16
Mar ’27SEK 192.80
SEK 195.13
+1.21%
5.46%SEK 220.00SEK 175.00n/a16
Feb ’27SEK 191.35
SEK 193.19
+0.96%
6.44%SEK 220.00SEK 167.00n/a16
Jan ’27SEK 195.10
SEK 183.87
-5.76%
6.24%SEK 206.00SEK 165.00n/a15
Dec ’26SEK 189.40
SEK 182.50
-3.64%
5.68%SEK 205.00SEK 165.00n/a14
Nov ’26SEK 181.40
SEK 181.43
+0.016%
5.27%SEK 205.00SEK 165.00n/a14
Oct ’26SEK 185.15
SEK 175.00
-5.48%
6.36%SEK 193.00SEK 158.00n/a14
Sep ’26SEK 177.25
SEK 170.21
-3.97%
6.56%SEK 190.00SEK 151.00n/a14
Aug ’26SEK 168.90
SEK 169.50
+0.36%
6.95%SEK 190.00SEK 151.00n/a14
Jul ’26SEK 164.05
SEK 165.27
+0.74%
7.53%SEK 185.00SEK 135.00n/a15
Jun ’26SEK 159.95
SEK 159.73
-0.14%
9.50%SEK 180.00SEK 129.00n/a15
May ’26SEK 152.45
SEK 156.60
+2.72%
9.24%SEK 180.00SEK 129.00n/a15
Apr ’26SEK 166.05
SEK 161.20
-2.92%
10.27%SEK 180.00SEK 128.00n/a15
Mar ’26SEK 172.65
SEK 158.31
-8.30%
10.67%SEK 181.00SEK 128.00SEK 192.8016
Feb ’26SEK 157.00
SEK 157.63
+0.40%
11.27%SEK 181.00SEK 125.00SEK 191.3516
Jan ’26SEK 151.45
SEK 157.81
+4.20%
11.65%SEK 185.00SEK 127.00SEK 195.1016
Dec ’25SEK 151.50
SEK 157.50
+3.96%
11.95%SEK 185.00SEK 130.00SEK 189.4016
Nov ’25SEK 153.00
SEK 158.73
+3.74%
11.74%SEK 185.00SEK 130.00SEK 181.4016
Oct ’25SEK 152.80
SEK 159.41
+4.33%
11.34%SEK 183.00SEK 130.00SEK 185.1517
Sep ’25SEK 158.00
SEK 158.87
+0.55%
12.27%SEK 190.00SEK 130.00SEK 177.2515
Aug ’25SEK 159.95
SEK 159.00
-0.59%
12.27%SEK 190.00SEK 130.00SEK 168.9015
Jul ’25SEK 157.80
SEK 152.33
-3.46%
11.37%SEK 180.00SEK 124.00SEK 164.0515
Jun ’25SEK 149.15
SEK 152.53
+2.27%
12.83%SEK 192.00SEK 120.00SEK 159.9515
May ’25SEK 145.30
SEK 151.29
+4.12%
13.58%SEK 192.00SEK 115.00SEK 152.4514
Apr ’25SEK 144.95
SEK 149.57
+3.19%
12.67%SEK 185.00SEK 115.00SEK 166.0514
Mar ’25SEK 153.25
SEK 149.24
-2.62%
11.96%SEK 185.00SEK 115.00SEK 172.6517
SEK 195.13
Fair Value
5.8% undervalued intrinsic discount
16
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 Analysis2026/03/09 05:46
End of Day Share Price 2026/03/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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

Skandinaviska Enskilda Banken AB (publ) is covered by 33 analysts. 14 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 HarrisonBarclays
Roberto de Aguiar AttuchBarclays