SHB-A Stock Analysis: Svenska Handelsbanken (publ) | ST
Banks - Diversified | ST, Sweden | Market Cap: 305.326m SEK | 12M Return: 41% | SE0007100599 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 627M
EPS Trend: -90.0%
Qual. Beats: 0
Rev. Trend: 62.8%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
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.
Svenska Handelsbanken AB (publ) is a Swedish diversified bank founded in 1871 and headquartered in Stockholm, operating across Sweden, the United Kingdom, Norway, the Netherlands, and other international markets. It serves both private and corporate customers, with a service range spanning personal and corporate banking, pension, advisory, investment, and financing services, including green loans.
The bank also provides capital markets and institutional services such as asset management, transaction banking, corporate finance, trade finance, markets execution, cash management, and securities finance. Its client base spans retail customers, small and medium-sized enterprises, and large corporates, supported by both digital and private banking channels.
As a large-cap stock in the Diversified Banks sub-industry of the Financials sector, Handelsbanken operates under a traditional universal banking model, generating revenue from net interest income, fee-based services, and trading activities. The bank is one of the four major commercial banks in Sweden, a market historically dominated by a small group of established institutions.
- Riksbank rate cuts compress Swedish net interest margins
- UK commercial property loan losses pressure credit costs
- Cost-to-income ratio remains best-in-class among Nordic peers
| Net Income: 23.5b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -0.08 > 1.0 |
| NWC/Revenue: -542.3% < 20% (prev -538.8%; Δ -3.45% < -1%) |
| CFO/TA 0.02 > 3% & CFO 74.6b > Net Income 23.5b |
| Net Debt (1184b) to EBITDA (32.3b): 36.69 < 3 |
| Current Ratio: 0.45 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.98b) vs 12m ago 0.0% < -2% |
| Gross Margin: 42.21% > 18% (prev 36.20%; Δ 6.01% > 0.5%) |
| Asset Turnover: 3.56% > 50% (prev 4.54%; Δ -0.98% > 0%) |
| Interest Coverage Ratio: 0.39 > 6 (EBIT TTM 30.3b / Interest Expense TTM 77.5b) |
| A: -0.19 (Total Current Assets 606b - Total Current Liabilities 1333b) / Total Assets 3872b |
| B: 0.04 (Retained Earnings 150b / Total Assets 3872b) |
| C: 0.01 (EBIT TTM 30.3b / Avg Total Assets 3767b) |
| D: 0.05 (Book Value of Equity 184b / Total Liabilities 3688b) |
| Altman-Z'' = -1.00 = CCC |
| DSRI: 3.0 (Receivables 536.0m/221.0m, Revenue 134b/166b) |
| GMI: 0.86 (GM 36.20% / 42.21%) |
| AQI: 1.02 (AQ_t 0.84 / AQ_t-1 0.83) |
| SGI: 0.81 (Revenue 134b / 166b) |
| TATA: -0.01 (NI 23.5b - CFO 74.6b) / TA 3872b) |
| Beneish M = -1.64 (Cap -4..+1) = CCC |
As of October 10, 2026, the stock is trading at SEK 151.20 with a total of 3,778,821 shares traded. Over the past week, the price has changed by -1.08%, over one month by +1.41%, over three months by +4.82% and over the past year by +41.00%.
Current recommended Stop Loss: 147.20 (which is 2.6% or 1.8 ATR below the current price).
Svenska Handelsbanken (publ) has no consensus analysts rating.
P/E Trailing = 12.7129
P/E Forward = 13.4228
P/S = 5.532
P/B = 1.6472
P/EG = 19.1726
Revenue TTM = 134b SEK
EBIT TTM = 30.3b SEK
EBITDA TTM = 32.3b SEK
Long Term Debt = 1463b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 751b SEK (from shortTermDebt, last fiscal year)
Debt = 1786b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 1184b SEK (calculated: Debt 1786b - CCE 602b)
Enterprise Value = 1489b SEK (305b + Debt 1786b - CCE 602b)
Interest Coverage Ratio = 0.39 (Ebit TTM 30.3b / Interest Expense TTM 77.5b)
EV/FCF = 20.09x (Enterprise Value 1489b / FCF TTM 74.1b)
FCF Yield = 4.98% (FCF TTM 74.1b / Enterprise Value 1489b)
FCF Margin = 55.27% (FCF TTM 74.1b / Revenue TTM 134b)
Net Margin = 17.53% (Net Income TTM 23.5b / Revenue TTM 134b)
Gross Margin = 42.21% ((Revenue TTM 134b - Cost of Revenue TTM 77.5b) / Revenue TTM)
Gross Margin QoQ = 40.67% (prev 45.62%)
Tobins Q-Ratio = 0.38 (Enterprise Value 1489b / Total Assets 3872b)
Interest Expense / Debt = 4.34% (Interest Expense 77.5b / Debt 1786b)
Taxrate = 21.82% (6.62b / 30.3b)
NOPAT = 23.7b (EBIT 30.3b * (1 - 21.82%))
Current Ratio = 0.45 (Total Current Assets 606b / Total Current Liabilities 1333b)
Debt / Equity = 9.68 (Debt 1786b / totalStockholderEquity, last quarter 184b)
Debt / EBITDA = 36.69 (Net Debt 1184b / EBITDA 32.3b)
Debt / FCF = 15.97 (Net Debt 1184b / FCF TTM 74.1b)
Total Stockholder Equity = 188b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.62% (Net Income 23.5b / Total Assets 3872b)
RoE = 12.52% (Net Income TTM 23.5b / Total Stockholder Equity 188b)
RoCE = 1.84% (EBIT 30.3b / Capital Employed (Equity 188b + L.T.Debt 1463b))
RoIC = 0.72% (NOPAT 23.7b / Invested Capital 3283b)
WACC = 3.91% (E(305b)/V(2091b) * Re(6.95%) + D(1786b)/V(2091b) * Rd(4.34%) * (1-Tc(0.22)))
Discount Rate = 6.95% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -30.79 | Cagr: -0.00%
[DCF] Terminal Value 75.63% ; FCFF base≈73.7b ; Y1≈74.9b ; Y5≈81.3b
[DCF] Fair Price = 39.70 (EV 1261b - Net Debt 1184b = Equity 77.2b / Shares 1.94b; r=8.35% [WACC [floored]]; 5y FCF grow 1.47% → 2.50% )
EPS Correlation: -90.01 | EPS CAGR: -6.24% | SUE: -0.73 | # QB: 0
Revenue Correlation: 62.77 | Revenue CAGR: 16.50% | SUE: 0.76 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.95 | Chg30d=+0.23% | Revisions=-40% | Analysts=3
EPS current Year (2026-12-31): EPS=11.33 | Chg30d=+0.18% | Revisions=-17% | GrowthEPS=-8.6% | GrowthRev=-0.9%
EPS next Year (2027-12-31): EPS=12.09 | Chg30d=+1.61% | Revisions=+0% | GrowthEPS=+6.7% | GrowthRev=+4.3%
[Analyst] Revisions Ratio: -25% (up=3, down=6)