Svenska Handelsbanken AB
Svenska Handelsbanken AB (publ) provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally. The company offers personal and corporate banking, and financial institutions. It provides green …
Svenska Handelsbanken AB (publ) provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally. The company offers personal and corporate banking, and financial institutions. It provides green loans, pension, advisory, investment and other financing services. In addition, the company's financial services, includes asset management, transaction banking, corporate finance, financing, markets, trade finance, market information and research services to large corporations; trading and execution. Further, it provides cash management, and securities finance solutions; and various corporate banking services to small and medium-sized companies and large corporates, as well as digital and private banking services. Svenska Handelsbanken AB (publ) was incorporated in 1871 and is headquartered in Stockholm, 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
EV/EBITDA (12x) 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 5.09% because the latest annual revenue declined), discount rate 9.60%, terminal growth 2.40%. See a worked example.
Blended growth assumption: 5.1% (sector default 5.4%, own revenue history 4.8%, analyst revenue consensus 5.1%).
5-year outlook: relative outlook of about 9.0% 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 5.1% 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 131.80 (-17.5%)
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EPS-based Gordon proxy
— SEK 167.41 (+4.8%)
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.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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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: 72 / 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 3 of 5 years | 12 / 20 |
| Growth | revenue +28.4% a year | 20 / 20 |
| Balance sheet | net debt 35.9x EBITDA | 0 / 20 |
| Margins | EBITDA margin 23% | 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 |
|---|---|---|---|---|---|---|
| SHB-A.ST (this company) | SEK 159.80 | -21.2% | 13.6 | 1.7 | 9.4% | 72 |
| PSH.L Pershing Square Holdings, Ltd. | GBP 38.44 | 68.5% | 3.6 | 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 17.50 per share · yield 10.95% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 17.500 |
| 2025 | 15.000 |
| 2024 | 13.000 |
| 2023 | 8.000 |
| 2022 | 5.000 |
| 2021 | 3.018 |
Trailing 12-month financials
TTM through 30 Sep 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 15:52
| Revenue | SEK 133,987,000,000 |
|---|---|
| EBITDA | SEK 31,331,000,000 |
| EBIT | SEK 29,908,000,000 |
| Net income | SEK 23,307,000,000 |
| Free cash flow | SEK 17,470,000,000 |
| Capital expenditures | SEK 676,000,000 |
| Debt | SEK 1,642,832,000,000 |
| Cash | SEK 517,108,000,000 |
| Working capital | SEK -313,361,000,000 |
| Shares outstanding | 1,980,028,000 |