Swedbank AB (publ)

OM:SWED A Stock Report

Market Cap: SEK 396.7b

Swedbank Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 SWED 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: SWED A (SEK353) is trading below our estimate of future cash flow value (SEK605.03)

Significantly Below Future Cash Flow Value: SWED 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 SWED A?

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

The above table shows the Price to Earnings ratio for SWED A. This is calculated by dividing SWED A's market cap by their current earnings.
What is SWED A's PE Ratio?
PE Ratio12.4x
EarningsSEK 31.91b
Market CapSEK 396.67b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SWED A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.8x
SEB A Skandinaviska Enskilda Banken
12.1x5.29%SEK 376.3b
SHB A Svenska Handelsbanken
11.6x1.21%SEK 283.1b
NOBA NOBA Bank Group
10.8x15.65%SEK 40.3b
NORION Norion Bank
8.7x9.55%SEK 11.7b
SWED A Swedbank
12.4x3.22%SEK 396.7b

Price-To-Earnings vs Peers: SWED A is expensive based on its Price-To-Earnings Ratio (12.4x) compared to the peer average (10.8x).

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 SWED A's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SWED A 12.4xIndustry Avg. 11.6xNo. of Companies38PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SWED A is expensive based on its Price-To-Earnings Ratio (12.4x) compared to the European Banks industry average (11.6x).

Price to Earnings Ratio vs Fair Ratio

What is SWED 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.

SWED A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.4x
Fair PE Ratio10.9x

Price-To-Earnings vs Fair Ratio: SWED A is expensive based on its Price-To-Earnings Ratio (12.4x) compared to the estimated Fair Price-To-Earnings Ratio (10.9x).

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 SWED A forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 353.00
SEK 344.81
-2.32%
7.76%SEK 382.00SEK 307.00n/a16
Jun ’27SEK 338.40
SEK 340.44
+0.60%
8.10%SEK 382.00SEK 303.00n/a16
May ’27SEK 323.70
SEK 339.31
+4.82%
8.39%SEK 382.00SEK 300.00n/a16
Apr ’27SEK 323.70
SEK 331.60
+2.44%
9.58%SEK 390.00SEK 289.00n/a15
Mar ’27SEK 347.80
SEK 327.80
-5.75%
11.96%SEK 390.00SEK 249.00n/a15
Feb ’27SEK 346.70
SEK 315.47
-9.01%
11.91%SEK 390.00SEK 249.00n/a15
Jan ’27SEK 321.10
SEK 290.21
-9.62%
8.25%SEK 340.00SEK 249.00n/a14
Dec ’26SEK 304.00
SEK 283.13
-6.86%
7.57%SEK 320.00SEK 242.00n/a15
Nov ’26SEK 289.00
SEK 279.60
-3.25%
7.90%SEK 320.00SEK 242.00n/a15
Oct ’26SEK 285.40
SEK 264.80
-7.22%
5.52%SEK 285.00SEK 230.00n/a15
Sep ’26SEK 268.70
SEK 260.40
-3.09%
6.07%SEK 285.00SEK 230.00n/a15
Aug ’26SEK 257.20
SEK 257.93
+0.29%
6.27%SEK 285.00SEK 230.00n/a15
Jul ’26SEK 249.40
SEK 252.13
+1.09%
5.78%SEK 270.00SEK 222.00n/a16
Jun ’26SEK 259.50
SEK 249.13
-4.00%
7.27%SEK 271.00SEK 209.00SEK 338.4016
May ’26SEK 239.90
SEK 244.24
+1.81%
7.58%SEK 271.00SEK 209.00SEK 323.7017
Apr ’26SEK 227.80
SEK 254.06
+11.53%
8.93%SEK 289.00SEK 209.00SEK 323.7016
Mar ’26SEK 258.30
SEK 249.75
-3.31%
9.90%SEK 285.00SEK 199.00SEK 347.8016
Feb ’26SEK 241.50
SEK 248.19
+2.77%
9.25%SEK 285.00SEK 199.00SEK 346.7016
Jan ’26SEK 218.30
SEK 237.38
+8.74%
7.53%SEK 271.00SEK 199.00SEK 321.1016
Dec ’25SEK 213.80
SEK 238.75
+11.67%
6.84%SEK 271.00SEK 214.00SEK 304.0016
Nov ’25SEK 218.90
SEK 237.92
+8.69%
6.54%SEK 264.00SEK 215.00SEK 289.0016
Oct ’25SEK 209.80
SEK 237.09
+13.01%
6.70%SEK 264.00SEK 200.00SEK 285.4017
Sep ’25SEK 219.40
SEK 236.53
+7.81%
6.56%SEK 256.52SEK 200.00SEK 268.7016
Aug ’25SEK 221.80
SEK 239.10
+7.80%
7.04%SEK 267.00SEK 200.00SEK 257.2016
Jul ’25SEK 222.60
SEK 234.40
+5.30%
7.42%SEK 260.00SEK 195.00SEK 249.4015
Jun ’25SEK 218.10
SEK 235.80
+8.12%
7.95%SEK 265.00SEK 195.00SEK 259.5015
SEK 344.81
Fair Value
2.4% overvalued intrinsic discount
16
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 Analysis2026/06/24 05:59
End of Day Share Price 2026/06/24 00:00
Earnings2026/03/31
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

Swedbank AB (publ) is covered by 35 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 HarrisonBarclays
Roberto de Aguiar AttuchBarclays