SEB-A Stock Analysis: Skandinaviska Enskilda | ST
Banks - Regional | ST, Sweden | Market Cap: 447.453m SEK | 12M Return: 31.1% | SE0000148884 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 512M
EPS Trend: -92.9%
Qual. Beats: 1
Rev. Trend: -50.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 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.
Skandinaviska Enskilda Banken AB (publ) (SEB-A) is a major Nordic financial group headquartered in Stockholm, Sweden, founded in 1856. It provides corporate, retail, investment, and private banking services through four main segments: Corporate & Investment Banking, Business & Retail Banking, Wealth & Asset Management, and Baltic. Its offerings span core banking products (loans, leasing, cards, payments), life insurance and pensions, capital markets and trading, fund management, treasury services, structured financing (commercial real estate, infrastructure, shipping), investment banking advisory, custody services, cash management, venture capital, and private wealth management.
The bank serves large corporates, financial institutions, SMEs, and private individuals, with operations across the Nordics and Baltics as well as in Germany, the UK, the Netherlands, Switzerland, China, Hong Kong, Singapore, the US, and other international locations. As a large-cap regional bank within the Financials sector, SEB operates a universal banking model that combines traditional retail and commercial lending with capital markets, asset management, and wealth advisory services-a structure typical of major Nordic banks that derive a significant share of revenue from corporate and investment banking alongside household-facing products.
- Riksbank rate cuts pressure net interest margins
- Corporate & Investment Banking fees decline on weak Nordic deal activity
- Baltic loan book credit risk rises amid regional economic slowdown
| Net Income: 31.1b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 3.71 > 1.0 |
| NWC/Revenue: -1.18k% < 20% (prev -941.1%; Δ -240.4% < -1%) |
| CFO/TA 0.01 > 3% & CFO 22.8b > Net Income 31.1b |
| Net Debt (430b) to EBITDA (41.2b): 10.43 < 3 |
| Current Ratio: 0.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.98b) vs 12m ago -2.03% < -2% |
| Gross Margin: 50.37% > 18% (prev 46.96%; Δ 3.41% > 0.5%) |
| Asset Turnover: 3.49% > 50% (prev 4.16%; Δ -0.67% > 0%) |
| Interest Coverage Ratio: 0.56 > 6 (EBIT TTM 38.8b / Interest Expense TTM 69.6b) |
| A: -0.40 (Total Current Assets 524b - Total Current Liabilities 2267b) / Total Assets 4355b |
| B: 0.04 (Retained Earnings 172b / Total Assets 4355b) |
| C: 0.01 (EBIT TTM 38.8b / Avg Total Assets 4233b) |
| D: 0.05 (Book Value of Equity 226b / Total Liabilities 4129b) |
| Altman-Z'' = -2.38 = D |
As of October 06, 2026, the stock is trading at SEK 232.60 with a total of 1,881,737 shares traded. Over the past week, the price has changed by -1.40%, over one month by +2.47%, over three months by +16.94% and over the past year by +31.13%.
Current recommended Stop Loss: 223.50 (which is 3.9% or 2.4 ATR below the current price).
Skandinaviska Enskilda has no consensus analysts rating.
P/E Trailing = 14.9125
P/E Forward = 13.0378
P/S = 6.0031
P/B = 2.0019
P/EG = 2.2104
Revenue TTM = 148b SEK
EBIT TTM = 38.8b SEK
EBITDA TTM = 41.2b SEK
Long Term Debt = 471b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 11.0b SEK (from shortTermDebt, two quarters ago)
Debt = 954b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 430b SEK (calculated: Debt 954b - CCE 524b)
Enterprise Value = 877b SEK (447b + Debt 954b - CCE 524b)
Interest Coverage Ratio = 0.56 (Ebit TTM 38.8b / Interest Expense TTM 69.6b)
EV/FCF = 27.54x (Enterprise Value 877b / FCF TTM 31.9b)
FCF Yield = 3.63% (FCF TTM 31.9b / Enterprise Value 877b)
FCF Margin = 21.59% (FCF TTM 31.9b / Revenue TTM 148b)
Net Margin = 21.11% (Net Income TTM 31.1b / Revenue TTM 148b)
Gross Margin = 50.37% ((Revenue TTM 148b - Cost of Revenue TTM 73.2b) / Revenue TTM)
Gross Margin QoQ = 52.86% (prev 52.49%)
Tobins Q-Ratio = 0.20 (Enterprise Value 877b / Total Assets 4355b)
Interest Expense / Debt = 7.29% (Interest Expense 69.6b / Debt 954b)
Taxrate = 19.62% (7.60b / 38.8b)
NOPAT = 31.1b (EBIT 38.8b * (1 - 19.62%))
Current Ratio = 0.23 (Total Current Assets 524b / Total Current Liabilities 2267b)
Debt / Equity = 4.23 (Debt 954b / totalStockholderEquity, last quarter 226b)
Debt / EBITDA = 10.43 (Net Debt 430b / EBITDA 41.2b)
Debt / FCF = 13.49 (Net Debt 430b / FCF TTM 31.9b)
Total Stockholder Equity = 224b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.74% (Net Income 31.1b / Total Assets 4355b)
RoE = 13.93% (Net Income TTM 31.1b / Total Stockholder Equity 224b)
RoCE = 5.58% (EBIT 38.8b / Capital Employed (Equity 224b + L.T.Debt 471b))
RoIC = 1.50% (NOPAT 31.1b / Invested Capital 2080b)
WACC = 6.32% (E(447b)/V(1402b) * Re(7.28%) + D(954b)/V(1402b) * Rd(7.29%) * (1-Tc(0.20)))
Discount Rate = 7.28% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.18 | Cagr: -2.27%
[DCF] Terminal Value 75.44% ; FCFF base≈31.9b ; Y1≈32.0b ; Y5≈33.9b
[DCF] Fair Price = 50.59 (EV 527b - Net Debt 430b = Equity 97.2b / Shares 1.92b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -92.88 | EPS CAGR: -6.68% | SUE: 1.96 | # QB: 1
Revenue Correlation: -50.56 | Revenue CAGR: -5.03% | SUE: 0.58 | # QB: 0
EPS current Quarter (2026-09-30): EPS=4.14 | Chg30d=-0.80% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=16.49 | Chg30d=+0.58% | Revisions=+57% | GrowthEPS=+5.5% | GrowthRev=+2.1%
EPS next Year (2027-12-31): EPS=18.63 | Chg30d=+2.32% | Revisions=+44% | GrowthEPS=+12.9% | GrowthRev=+6.5%
[Analyst] Revisions Ratio: +64% (up=10, down=1)