(SHB-A) Svenska Handelsbanken (publ) - ST
Sector: Financial Services | Industry: Banks - Diversified | Exchange: ST (Sweden) | Market Cap: 280.968m SEK | Total Return: 29.2% in 12m
Avg Turnover: 599M
EPS Trend: -60.8%
Qual. Beats: 2
Rev. Trend: 91.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Svenska Handelsbanken AB (publ) is a Swedish banking group founded in 1871 and headquartered in Stockholm, operating across Sweden, the United Kingdom, Norway, the Netherlands, and additional international markets. It serves both private and corporate customers, offering personal and corporate banking, lending (including green loans), pensions, advisory, investment, and financing services. The company also provides capital markets and treasury-related offerings such as asset management, transaction banking, corporate finance, trade finance, cash management, and securities finance, alongside digital and private banking channels. As a large-cap diversified bank within the Financials sector, Handelsbanken generates revenue through a mix of net interest income from lending and fee-based income from payments, advisory, and asset management services.
- Riksbank rate cuts compress net interest margins
- Nordic commercial real estate loan losses escalate
- Capital returns continue with high payout ratio
| Net Income: 23.8b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.35 > 1.0 |
| NWC/Revenue: -100.6% < 20% (prev -927.6%; Δ 826.9% < -1%) |
| CFO/TA 0.06 > 3% & CFO 206b > Net Income 23.8b |
| Net Debt (1232b) to EBITDA (32.8b): 37.57 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.98b) vs 12m ago 0.0% < -2% |
| Gross Margin: 41.47% > 18% (prev 99.85%; Δ -58.37% > 0.5%) |
| Asset Turnover: 3.69% > 50% (prev 2.56%; Δ 1.13% > 0%) |
| Interest Coverage Ratio: 0.38 > 6 (EBIT TTM 30.8b / Interest Expense TTM 80.1b) |
| A: -0.04 (Total Current Assets 577b - Total Current Liabilities 715b) / Total Assets 3725b |
| B: 0.04 (Retained Earnings 145b / Total Assets 3725b) |
| C: 0.01 (EBIT TTM 30.8b / Avg Total Assets 3714b) |
| D: 0.05 (Book Value of Equity 172b / Total Liabilities 3553b) |
| Altman-Z'' = -0.01 = B |
| DSRI: 0.10 (Receivables 30.0m/1.40b, Revenue 137b/94.8b) |
| GMI: 2.41 (GM 99.85% / 41.47%) |
| AQI: 1.03 (AQ_t 0.84 / AQ_t-1 0.82) |
| SGI: 1.44 (Revenue 137b / 94.8b) |
| TATA: -0.05 (NI 23.8b - CFO 206b) / TA 3725b) |
| Beneish M = -2.16 (Cap -4..+1) = BB |
As of June 26, 2026, the stock is trading at SEK 141.15 with a total of 3,606,372 shares traded. Over the past week, the price has changed by +0.53%, over one month by +1.80%, over three months by +17.09% and over the past year by +29.16%.
Current recommended Stop Loss: 137.60 (which is 2.5% or 1.9 ATR below the current price).
Svenska Handelsbanken (publ) has no consensus analysts rating.
P/E Trailing = 11.5445
P/E Forward = 13.624
P/S = 5.0421
P/B = 1.6245
P/EG = 19.4655
Revenue TTM = 137b SEK
EBIT TTM = 30.8b SEK
EBITDA TTM = 32.8b SEK
Long Term Debt = 1463b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 715b SEK (from shortTermDebt, last quarter)
Debt = 1805b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 1232b SEK (calculated: Debt 1805b - CCE 573b)
Enterprise Value = 1513b SEK (281b + Debt 1805b - CCE 573b)
Interest Coverage Ratio = 0.38 (Ebit TTM 30.8b / Interest Expense TTM 80.1b)
EV/FCF = 31.03x (Enterprise Value 1513b / FCF TTM 48.8b)
FCF Yield = 3.22% (FCF TTM 48.8b / Enterprise Value 1513b)
FCF Margin = 35.61% (FCF TTM 48.8b / Revenue TTM 137b)
Net Margin = 17.35% (Net Income TTM 23.8b / Revenue TTM 137b)
Gross Margin = 41.47% ((Revenue TTM 137b - Cost of Revenue TTM 80.1b) / Revenue TTM)
Gross Margin QoQ = 45.62% (prev 42.87%)
Tobins Q-Ratio = 0.41 (Enterprise Value 1513b / Total Assets 3725b)
Interest Expense / Debt = 4.44% (Interest Expense 80.1b / Debt 1805b)
Taxrate = 22.04% (6.79b / 30.8b)
NOPAT = 24.0b (EBIT 30.8b * (1 - 22.04%))
Current Ratio = 0.81 (Total Current Assets 577b / Total Current Liabilities 715b)
Debt / Equity = 10.48 (Debt 1805b / totalStockholderEquity, last quarter 172b)
Debt / EBITDA = 37.57 (Net Debt 1232b / EBITDA 32.8b)
Debt / FCF = 25.27 (Net Debt 1232b / FCF TTM 48.8b)
Total Stockholder Equity = 189b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.64% (Net Income 23.8b / Total Assets 3725b)
RoE = 12.59% (Net Income TTM 23.8b / Total Stockholder Equity 189b)
RoCE = 1.87% (EBIT 30.8b / Capital Employed (Equity 189b + L.T.Debt 1463b))
RoIC = 0.65% (NOPAT 24.0b / Invested Capital 3719b)
WACC = 3.99% (E(281b)/V(2086b) * Re(7.36%) + D(1805b)/V(2086b) * Rd(4.44%) * (1-Tc(0.22)))
Discount Rate = 7.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -69.20 | Cagr: -0.00%
[DCF] Terminal Value 73.10% ; FCFF base≈53.9b ; Y1≈47.2b ; Y5≈38.2b
[DCF] Fair Price = N/A (negative equity: EV 613b - Net Debt 1232b = -619b; debt exceeds intrinsic value)
EPS Correlation: -60.79 | EPS CAGR: -4.00% | SUE: 3.87 | # QB: 2
Revenue Correlation: 91.04 | Revenue CAGR: 33.45% | SUE: 0.60 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.88 | Chg30d=+1.17% | Revisions=+33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=2.97 | Chg30d=+0.00% | Revisions=+33% | Analysts=3
EPS current Year (2026-12-31): EPS=11.42 | Chg30d=-0.04% | Revisions=+17% | GrowthEPS=-8.0% | GrowthRev=-0.3%
EPS next Year (2027-12-31): EPS=11.87 | Chg30d=-0.09% | Revisions=+43% | GrowthEPS=+4.0% | GrowthRev=+2.9%
[Analyst] Revisions Ratio: +43%