SEB-A Stock Analysis: Skandinaviska Enskilda | ST
Banks - Regional | ST, Sweden | Market Cap: 371.560m SEK | 12M Return: 23.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 435M
EPS Trend: -75.4%
Qual. Beats: 0
Rev. Trend: 9.3%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: under 40 is mostly noise, over 50 gets interesting, and over 70 is strong.
Skandinaviska Enskilda Banken AB (publ) is a major Nordic universal bank founded in 1856 and headquartered in Stockholm, Sweden, operating across four segments: Corporate & Investment Banking, Business & Retail Banking, Wealth & Asset Management, and Baltic. The company offers a comprehensive suite of financial services, including loans, leasing, payments, life insurance and pensions, capital markets products, fund management, structured financing (commercial real estate, infrastructure, shipping), investment banking advisory, fixed income/currency/commodities execution, trade and supply chain finance, custody services, cash management, venture capital, and private wealth management. SEB serves large corporates, financial institutions, SMEs, and private individuals, with operations spanning Sweden, the other Nordics, the Baltics, and select international financial hubs across Europe, Asia, and North America.
The Nordic banking sector is characterized by a concentrated oligopoly of a few universal banks serving both retail and corporate clients, and SEB is among the big four Swedish banks that dominate domestic lending and capital markets activity. As a large-cap financial classified under regional banks, SEBs universal banking model allows it to cross-sell traditional lending, investment banking, and asset management services to corporate and institutional clients, with the Baltic segment providing material exposure to the faster-growing Baltic economies. The sector is heavily regulated by the Swedish Financial Supervisory Authority (Finansinspektionen) and the European Central Bank, given the cross-border nature of Nordic banking groups.
- NIM expansion as Riksbank maintains higher policy rate
- Corporate & Investment Banking fees rise on M&A recovery
- Baltic loan demand weakens amid regional economic slowdown
| Net Income: 30.7b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 2.09 > 1.0 |
| NWC/Revenue: -1.10k% < 20% (prev -738.2%; Δ -366.0% < -1%) |
| CFO/TA 0.01 > 3% & CFO 30.2b > Net Income 30.7b |
| Net Debt (505b) to EBITDA (40.8b): 12.36 < 3 |
| Current Ratio: 0.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.98b) vs 12m ago -2.70% < -2% |
| Gross Margin: 49.65% > 18% (prev 45.12%; Δ 4.52% > 0.5%) |
| Asset Turnover: 3.62% > 50% (prev 4.39%; Δ -0.77% > 0%) |
| Interest Coverage Ratio: 0.54 > 6 (EBIT TTM 38.4b / Interest Expense TTM 71.2b) |
| A: -0.40 (Total Current Assets 456b - Total Current Liabilities 2097b) / Total Assets 4123b |
| B: 0.04 (Retained Earnings 164b / Total Assets 4123b) |
| C: 0.01 (EBIT TTM 38.4b / Avg Total Assets 4105b) |
| D: 0.06 (Book Value of Equity 215b / Total Liabilities 3908b) |
| Altman-Z'' = -2.36 = D |
As of July 02, 2026, the stock is trading at SEK 192.90 with a total of 2,806,706 shares traded. Over the past week, the price has changed by -0.03%, over one month by +6.19%, over three months by +8.52% and over the past year by +23.47%.
Current recommended Stop Loss: 188.90 (which is 2.1% or 1.5 ATR below the current price).
Skandinaviska Enskilda has no consensus analysts rating.
P/E Trailing = 12.3895
P/E Forward = 11.8483
P/S = 5.0146
P/B = 1.7463
P/EG = 2.0088
Revenue TTM = 149b SEK
EBIT TTM = 38.4b SEK
EBITDA TTM = 40.8b SEK
Long Term Debt = 471b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 11.0b SEK (from shortTermDebt, last quarter)
Debt = 961b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 505b SEK (calculated: Debt 961b - CCE 456b)
Enterprise Value = 876b SEK (372b + Debt 961b - CCE 456b)
Interest Coverage Ratio = 0.54 (Ebit TTM 38.4b / Interest Expense TTM 71.2b)
EV/FCF = 27.51x (Enterprise Value 876b / FCF TTM 31.9b)
FCF Yield = 3.63% (FCF TTM 31.9b / Enterprise Value 876b)
FCF Margin = 21.43% (FCF TTM 31.9b / Revenue TTM 149b)
Net Margin = 20.68% (Net Income TTM 30.7b / Revenue TTM 149b)
Gross Margin = 49.65% ((Revenue TTM 149b - Cost of Revenue TTM 74.8b) / Revenue TTM)
Gross Margin QoQ = 52.49% (prev 52.95%)
Tobins Q-Ratio = 0.21 (Enterprise Value 876b / Total Assets 4123b)
Interest Expense / Debt = 7.42% (Interest Expense 71.2b / Debt 961b)
Taxrate = 19.91% (7.64b / 38.4b)
NOPAT = 30.7b (EBIT 38.4b * (1 - 19.91%))
Current Ratio = 0.22 (Total Current Assets 456b / Total Current Liabilities 2097b)
Debt / Equity = 4.46 (Debt 961b / totalStockholderEquity, last quarter 215b)
Debt / EBITDA = 12.36 (Net Debt 505b / EBITDA 40.8b)
Debt / FCF = 15.85 (Net Debt 505b / FCF TTM 31.9b)
Total Stockholder Equity = 221b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.75% (Net Income 30.7b / Total Assets 4123b)
RoE = 13.89% (Net Income TTM 30.7b / Total Stockholder Equity 221b)
RoCE = 5.54% (EBIT 38.4b / Capital Employed (Equity 221b + L.T.Debt 471b))
RoIC = 1.51% (NOPAT 30.7b / Invested Capital 2029b)
WACC = 6.42% (E(372b)/V(1332b) * Re(7.68%) + D(961b)/V(1332b) * Rd(7.42%) * (1-Tc(0.20)))
Discount Rate = 7.68% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -2.46%
[DCF] Terminal Value 75.44% ; FCFF base≈31.9b ; Y1≈32.0b ; Y5≈33.9b
[DCF] Fair Price = 11.48 (EV 527b - Net Debt 505b = Equity 22.1b / Shares 1.93b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -75.40 | EPS CAGR: -5.30% | SUE: 0.64 | # QB: 0
Revenue Correlation: 9.34 | Revenue CAGR: 1.18% | SUE: 0.52 | # QB: 0
EPS current Quarter (2026-09-30): EPS=4.05 | Chg30d=+0.15% | Revisions=+20% | Analysts=4
EPS current Year (2026-12-31): EPS=15.88 | Chg30d=-0.54% | Revisions=+0% | GrowthEPS=+1.6% | GrowthRev=+0.4%
EPS next Year (2027-12-31): EPS=17.76 | Chg30d=+0.64% | Revisions=+0% | GrowthEPS=+11.8% | GrowthRev=+5.7%
[Analyst] Revisions Ratio: +20%