Swedbank AB
Swedbank AB (publ) provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China. It operates through Swedish Banking; Baltic Banking; Corporates and Institutions; and Premium and P…
Swedbank AB (publ) provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China. It operates through Swedish Banking; Baltic Banking; Corporates and Institutions; and Premium and Private Banking segments. The company offers saving and investment solutions, such as savings accounts, mutual funds and insurance savings, pension savings, institutional asset management, and other savings and investment products; financing solutions, including private residential lending, consumer financing, corporate lending, leasing, and other financing products, as well as trade finance and factoring services; and payment and card services, which include current accounts, cash management, cash handling, debit and credit cards, and card acquiring, as well as domestic, international, mobile, document, and other payment products. It also provides trading and capital market products, such as equity trading, structured products, corporate finance, custody services, fixed income and currency trading, and other capital market products; other services, including administrative services, treasury operations, real estate brokerage and management services, legal services, and safe deposit boxes; and private banking services. In addition, the company offers pension insurance and plans, endowment insurance, and personal insurance products; mortgage lending; mortgage lending; advisory services and investment banking; and transaction banking services comprising cash management, securities, account, and clearing and settlement services, as well as Internet and mobile banking services. The company was formerly known as ForeningsSparbanken AB and changed its name to Swedbank AB (publ) in September 2006. Swedbank AB (publ) was founded in 1820 and is headquartered in Sundbyberg, Sweden.No valuation verdict yet
Why: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Details and the full model are below.
Selected model not applicable
FCFF (steady state) needs inputs this company does not have (for example positive earnings, free cash flow or EBITDA), so it gives no usable value.
Assumptions: growth 3% (limited from 7.43% because the latest annual revenue declined), discount rate 9.60%, terminal growth 2.40%. See a worked example.
Blended growth assumption: 7.4% (sector default 5.4%, own revenue history 9.8%, analyst revenue consensus 7.2%).
5-year outlook: relative outlook of about 9.3% a year (High confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 7.3% a year; the growth assumption used is 3.0%.
Adjust assumptions
Show the recommended model instead
Why this model: Banks and insurers earn their money on their balance sheet, so value follows book value and how much the company earns on it (return on equity).
Compare models- Recommended: Justified P/B (ROE) — SEK 316.60 (-21.3%)
-
EPS-based Gordon proxy
— SEK 389.41 (-3.3%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
-
DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
-
Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
-
EV/Sales (Rule of 40)
— not applicable
Not used: Cannot be computed: revenue is missing.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 64 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 1 of 5 years | 4 / 20 |
| Growth | revenue +23.1% a year | 20 / 20 |
| Balance sheet | net debt 21.0x EBITDA | 0 / 20 |
| Margins | EBITDA margin 35% | 20 / 20 |
Peers in Financials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| SWED-A.ST (this company) | SEK 402.50 | -27.1% | 14.7 | 2.1 | 5.1% | 64 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.44 | 68.5% | 3.7 | 0.6 | 1.3% | 76 |
| LRE.L Lancashire Holdings Limited | GBP 6.88 | 45.6% | 7.1 | 1.6 | 3.3% | 76 |
| ACA.PA Credit Agricole S.A. | EUR 15.73 | 36.6% | 6.7 | 0.7 | 7.0% | 78 |
| V Visa Inc. | USD 414.00 | 34.6% | 8.7 | – | 0.2% | 100 |
| PRU.L Prudential plc | GBP 9.24 | 34.2% | 8.0 | 1.6 | 1.9% | 78 |
| AGS.BR ageas SA/NV | EUR 76.95 | 33.0% | 8.1 | 1.5 | 5.0% | 76 |
| NWG.L NatWest Group plc | GBP 5.86 | 30.3% | 8.2 | 1.3 | 5.0% | 88 |
| ACGL Arch Capital Group | USD 108.49 | 30.3% | 8.5 | 1.6 | 0.1% | 100 |
| Peer median | 8.1 | 1.5 | ||||
Dividends
Paid in the last 12 months: SEK 29.80 per share · yield 7.40% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 29.800 |
| 2025 | 21.700 |
| 2024 | 15.150 |
| 2023 | 9.750 |
| 2022 | 11.250 |
| 2021 | 14.550 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 14:11
| Revenue | SEK 117,684,000,000 |
|---|---|
| EBITDA | SEK 40,652,000,000 |
| EBIT | SEK 38,881,000,000 |
| Net income | SEK 30,952,000,000 |
| Free cash flow | SEK -2,372,000,000 |
| Capital expenditures | SEK 500,000,000 |
| Debt | SEK 1,133,970,000,000 |
| Cash | SEK 282,061,000,000 |
| Working capital | SEK -89,763,000,000 |
| Shares outstanding | 1,130,432,000 |
| Reported dividends per share | SEK 20.4500 |