SAVE Stock Analysis: Nordnet | ST
Capital Markets | ST, Sweden | Market Cap: 85.687m SEK | 12M Return: 24% | SE0015192067 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 125M
EPS Trend: 97.2%
Qual. Beats: 1
Rev. Trend: 97.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 5.8 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Nordnet AB (publ) is a Nordic digital savings and investment platform serving customers in Sweden, Norway, Denmark, and Finland. The company provides brokerage services for stocks, mutual funds, and other securities, alongside margin lending, residential mortgages, and a range of pension products including occupational pensions, endowment insurance, and private pension savings accounts. It also operates Shareville, a social investment network that lets users share their investment activity in real time. Founded in 1996 and headquartered in Stockholm, Nordnet operates within the Investment Banking & Brokerage sub-industry, a sector that has seen significant shift toward digital and mobile-first platforms as traditional branch-based brokerage gives way to low-cost online trading across the Nordic region.
- Net interest income surges on elevated Nordic policy rates
- AUM and customer growth accelerate across all four markets
- Trading volumes rise on Nordic equity market volatility
| Net Income: 3.29b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -3.29 > 1.0 |
| NWC/Revenue: -1.08k% < 20% (prev -1.16k%; Δ 80.37% < -1%) |
| CFO/TA 0.03 > 3% & CFO 9.41b > Net Income 3.29b |
| Net Debt (-1.45b) to EBITDA (4.33b): -0.34 < 3 |
| Current Ratio: 0.03 > 1.5 & < 3 |
| Outstanding Shares: last quarter (248.7m) vs 12m ago -0.57% < -2% |
| Gross Margin: 78.87% > 18% (prev 88.98%; Δ -10.11% > 0.5%) |
| Asset Turnover: 2.37% > 50% (prev 2.11%; Δ 0.26% > 0%) |
| Interest Coverage Ratio: 8.97 > 6 (EBIT TTM 4.08b / Interest Expense TTM 455.0m) |
| A: -0.23 (Total Current Assets 2.92b - Total Current Liabilities 84.0b) / Total Assets 349b |
| B: -0.00 (Retained Earnings -526.0m / Total Assets 349b) |
| C: 0.01 (EBIT TTM 4.08b / Avg Total Assets 316b) |
| D: 0.02 (Book Value of Equity 8.06b / Total Liabilities 341b) |
| Altman-Z'' = -1.42 = CCC |
| DSRI: 1.94 (Receivables 17.0m/7.00m, Revenue 7.49b/5.97b) |
| GMI: 1.13 (GM 88.98% / 78.87%) |
| AQI: 1.00 (AQ_t 0.99 / AQ_t-1 0.99) |
| SGI: 1.25 (Revenue 7.49b / 5.97b) |
| TATA: -0.02 (NI 3.29b - CFO 9.41b) / TA 349b) |
| Beneish M = -1.96 (Cap -4..+1) = B |
As of October 08, 2026, the stock is trading at SEK 337.80 with a total of 344,986 shares traded. Over the past week, the price has changed by -1.29%, over one month by -3.87%, over three months by -8.60% and over the past year by +24.02%.
Current recommended Stop Loss: 317.70 (which is 6% or 2.3 ATR below the current price).
Nordnet has no consensus analysts rating.
P/E Trailing = 26.6049
P/E Forward = 20.6612
P/S = 12.9848
P/B = 10.2205
Revenue TTM = 7.49b SEK
EBIT TTM = 4.08b SEK
EBITDA TTM = 4.33b SEK
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 900.0m SEK (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -1.45b SEK (calculated: Debt 900.0m - CCE 2.35b)
Enterprise Value = 84.2b SEK (85.7b + Debt 900.0m - CCE 2.35b)
Interest Coverage Ratio = 8.97 (Ebit TTM 4.08b / Interest Expense TTM 455.0m)
EV/FCF = 9.21x (Enterprise Value 84.2b / FCF TTM 9.14b)
FCF Yield = 10.85% (FCF TTM 9.14b / Enterprise Value 84.2b)
FCF Margin = 122.1% (FCF TTM 9.14b / Revenue TTM 7.49b)
Net Margin = 43.93% (Net Income TTM 3.29b / Revenue TTM 7.49b)
Gross Margin = 78.87% ((Revenue TTM 7.49b - Cost of Revenue TTM 1.58b) / Revenue TTM)
Gross Margin QoQ = 93.15% (prev 93.69%)
Tobins Q-Ratio = 0.24 (Enterprise Value 84.2b / Total Assets 349b)
Interest Expense / Debt = 50.56% (Interest Expense 455.0m / Debt 900.0m)
Taxrate = 19.34% (789.0m / 4.08b)
NOPAT = 3.29b (EBIT 4.08b * (1 - 19.34%))
Current Ratio = 0.03 (Total Current Assets 2.92b / Total Current Liabilities 84.0b)
Debt / Equity = 0.11 (Debt 900.0m / totalStockholderEquity, last quarter 8.06b)
Debt / EBITDA = -0.34 (Net Debt -1.45b / EBITDA 4.33b)
Debt / FCF = -0.16 (Net Debt -1.45b / FCF TTM 9.14b)
Total Stockholder Equity = 7.91b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.04% (Net Income 3.29b / Total Assets 349b)
RoE = 41.62% (Net Income TTM 3.29b / Total Stockholder Equity 7.91b)
RoCE = 1.54% (EBIT 4.08b / Capital Employed (Total Assets 349b - Current Liab 84.0b))
RoIC = 1.24% (NOPAT 3.29b / Invested Capital 265b)
WACC = 6.88% (E(85.7b)/V(86.6b) * Re(6.95%) + (debt cost/tax rate unavailable))
Discount Rate = 6.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -95.72 | Cagr: -0.44%
[DCF] Terminal Value 73.10% ; FCFF base≈12.2b ; Y1≈10.7b ; Y5≈8.64b
[DCF] Fair Price = 563.7 (EV 139b - Net Debt -1.45b = Equity 140b / Shares 248.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 97.24 | EPS CAGR: 10.83% | SUE: 3.12 | # QB: 1
Revenue Correlation: 97.75 | Revenue CAGR: 18.40% | SUE: 0.55 | # QB: 0
EPS current Quarter (2026-09-30): EPS=3.70 | Chg30d=-1.51% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=14.67 | Chg30d=-0.03% | Revisions=+25% | GrowthEPS=+24.1% | GrowthRev=+18.4%
EPS next Year (2027-12-31): EPS=16.49 | Chg30d=+1.65% | Revisions=+40% | GrowthEPS=+12.4% | GrowthRev=+11.9%
[Analyst] Revisions Ratio: +50% (up=3, down=0)