(SWED-A) Swedbank (publ) - ST
Sector: Financial Services | Industry: Banks - Regional | Exchange: ST (Sweden) | Market Cap: 394.873m SEK | Total Return: 62.3% in 12m
Avg Turnover: 614M
EPS Trend: 14.0%
Qual. Beats: 0
Rev. Trend: 8.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Idiosyncratic Leader
Swedbank AB (publ) is a financial services institution headquartered in Sweden, operating primarily across the Nordic and Baltic regions. The company provides a comprehensive suite of retail and corporate banking services, including residential mortgages, consumer lending, asset management, and insurance products. Its operations are organized into four main segments: Swedish Banking, Baltic Banking, Corporates and Institutions, and Premium and Private Banking.
The business model relies heavily on net interest income generated from its dominant position in the Swedish mortgage market and its extensive retail network in Estonia, Latvia, and Lithuania. As a regional bank, Swedbank functions as a systemic lender in its core markets, where high levels of digital banking adoption allow for streamlined transaction processing and integrated mobile payment solutions.
Beyond traditional lending, the firm provides specialized capital market services, including equity trading, corporate finance, and custody services. Founded in 1820, the bank maintains a significant infrastructure for cash management and payment processing, supporting international trade finance and cross-border transactions for corporate clients across Northern Europe and representative offices globally.
- Net interest margin sensitivity to Riksbank and ECB rate cycles
- Mortgage market share stability amid Swedish housing price volatility
- Baltic region credit quality and geopolitical risk exposure
- Capital distribution capacity via dividends and share buybacks
| Net Income: 31.9b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -2.85 > 1.0 |
| NWC/Revenue: -902.2% < 20% (prev -735.0%; Δ -167.2% < -1%) |
| CFO/TA -0.01 > 3% & CFO -45.3b > Net Income 31.9b |
| Net Debt (638b) to EBITDA (42.3b): 15.09 < 3 |
| Current Ratio: 0.27 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.13b) vs 12m ago 0.05% < -2% |
| Gross Margin: 59.61% > 18% (prev 52.37%; Δ 7.24% > 0.5%) |
| Asset Turnover: 3.65% > 50% (prev 4.47%; Δ -0.82% > 0%) |
| Interest Coverage Ratio: 0.92 > 6 (EBIT TTM 40.0b / Interest Expense TTM 43.3b) |
| A: -0.32 (Total Current Assets 385b - Total Current Liabilities 1421b) / Total Assets 3188b |
| B: 0.05 (Retained Earnings 154b / Total Assets 3188b) |
| C: 0.01 (EBIT TTM 40.0b / Avg Total Assets 3143b) |
| D: 0.07 (Book Value of Equity 199b / Total Liabilities 2989b) |
| Altman-Z'' = -1.82 = D |
As of June 23, 2026, the stock is trading at SEK 360.50 with a total of 1,944,031 shares traded. Over the past week, the price has changed by +3.62%, over one month by +4.89%, over three months by +20.50% and over the past year by +62.32%.
Current recommended Stop Loss: 348.00 (which is 3.5% or 2 ATR below the current price).
Swedbank (publ) has no consensus analysts rating.
P/E Trailing = 12.4478
P/E Forward = 12.9032
P/S = 5.7893
P/B = 1.9648
P/EG = 6.7931
Revenue TTM = 115b SEK
EBIT TTM = 40.0b SEK
EBITDA TTM = 42.3b SEK
Long Term Debt = 657b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 257b SEK (from shortTermDebt, last fiscal year)
Debt = 1023b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 638b SEK (calculated: Debt 1023b - CCE 385b)
Enterprise Value = 1033b SEK (395b + Debt 1023b - CCE 385b)
Interest Coverage Ratio = 0.92 (Ebit TTM 40.0b / Interest Expense TTM 43.3b)
EV/FCF = -22.51x (Enterprise Value 1033b / FCF TTM -45.9b)
FCF Yield = -4.44% (FCF TTM -45.9b / Enterprise Value 1033b)
FCF Margin = -39.97% (FCF TTM -45.9b / Revenue TTM 115b)
Net Margin = 27.79% (Net Income TTM 31.9b / Revenue TTM 115b)
Gross Margin = 59.61% ((Revenue TTM 115b - Cost of Revenue TTM 46.4b) / Revenue TTM)
Gross Margin QoQ = 63.00% (prev 64.39%)
Tobins Q-Ratio = 0.32 (Enterprise Value 1033b / Total Assets 3188b)
Interest Expense / Debt = 4.23% (Interest Expense 43.3b / Debt 1023b)
Taxrate = 20.60% (8.28b / 40.2b)
NOPAT = 31.7b (EBIT 40.0b * (1 - 20.60%))
Current Ratio = 0.27 (Total Current Assets 385b / Total Current Liabilities 1421b)
Debt / Equity = 5.14 (Debt 1023b / totalStockholderEquity, last quarter 199b)
Debt / EBITDA = 15.09 (Net Debt 638b / EBITDA 42.3b)
Debt / FCF = -13.90 (negative FCF - burning cash) (Net Debt 638b / FCF TTM -45.9b)
Total Stockholder Equity = 213b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.02% (Net Income 31.9b / Total Assets 3188b)
RoE = 14.99% (Net Income TTM 31.9b / Total Stockholder Equity 213b)
RoCE = 4.60% (EBIT 40.0b / Capital Employed (Equity 213b + L.T.Debt 657b))
RoIC = 1.57% (NOPAT 31.7b / Invested Capital 2018b)
WACC = 4.41% (E(395b)/V(1418b) * Re(7.12%) + D(1023b)/V(1418b) * Rd(4.23%) * (1-Tc(0.21)))
Discount Rate = 7.12% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 0.10%
[DCF] Fair Price = unknown (Cash Flow -45.9b)
EPS Correlation: 14.01 | EPS CAGR: 0.80% | SUE: 0.32 | # QB: 0
Revenue Correlation: 8.04 | Revenue CAGR: 1.04% | SUE: 0.47 | # QB: 0
EPS current Quarter (2026-06-30): EPS=6.85 | Chg30d=+0.14% | Revisions=+33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=7.26 | Chg30d=+0.55% | Revisions=+33% | Analysts=3
EPS current Year (2026-12-31): EPS=27.34 | Chg30d=+0.22% | Revisions=N/A | GrowthEPS=-5.7% | GrowthRev=+3.1%
EPS next Year (2027-12-31): EPS=29.54 | Chg30d=+0.30% | Revisions=-20% | GrowthEPS=+8.0% | GrowthRev=+4.2%
[Analyst] Revisions Ratio: +33%