Rankings Financial data & insurance broking Swedbank
Swedbank
69
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Multiples vs own history−9
- Quality of growth−4
- Peers−3
Strengths
- Legacy closed out+1
- Capital and profitability+1
How the score is built
From 100 to 69, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 388.60 SEK
- Median analyst target
- 402.50 SEK
- Upside to median
- +3.6%
- Analysts
- 16
- Target range
- 307.00 – 510.00 SEK
- 52-week change
- +34%
- P/E (trailing)
- 14.2
- Forward P/E
- 12.8
- PEG
- 2.12
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 1 finding−4 of −30
- −4Quality of growthIncome fell 7.5% in 2025 and 4.2% TTM; EPS fell 6.1% in 2025 and 8.1% TTM (SEK 27.60), and analysts expect −4.3% in 2026. NII rose only 1% in Q2 because mortgage competition squeezes the lending margin in Sweden; a SEK 1.3bn restructuring programme (860m in Q2, reported ROE 14.2%) is to save about SEK 1bn a year by 2028.
Price
Today's multiples against the company's own history and its peers. · 2 findings−12 of −35
- −9Multiples vs own historyP/B 2.23 vs 1.12–1.60 in 2021–2025 and trailing P/E 14.9 vs 6.7–11.0; forward P/E 14.9 on falling 2026 EPS. The share price has risen from SEK 130 to 414 since 2022 (+217%), while EPS has risen 45% and is now falling. The price is above the average target of SEK 383.
- −3PeersP/B 2.23 and P/TBV 2.51 are the highest among the big Nordic banks at a 15.0% ROE vs Nordea (1.95/2.25 at 15.3%), SEB (2.03 at 14.1%) and DNB (1.67 at 15.1%); trailing P/E 14.9 vs Nordea 13.1 and DNB 11.7.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 3 findings−4 of −35
- −2Compliance historyNew York's financial regulator (NYDFS) fined the bank USD 50m on 15 July 2026 for withholding information from investigators in the Panama Papers case, on top of the Swedish FSA's SEK 4bn fine in 2020 for the Baltic money-laundering failings. Repeated lack of transparency is a culture risk.
- −1Credit qualityCredit losses of SEK 313m (6 bp of loans) in Q2 and only 52m in all of 2025; the level can only normalise upwards, including in Swedish housing and the Baltics.
- −1
Plus
Only documented strengths. · 2 findings+2 of +15
- +1Legacy closed outWith the DFS settlement in July 2026, all investigations into the bank's historical failings are closed, according to the bank.
- +1Capital and profitabilityCET1 17.4% with a 260 bp buffer; adjusted ROE 15.5%, above the 15% target, and management will not hold more capital than necessary (target buffer 200 bp).
Caveats
What the score does not capture, or where the data is weak.
Bank: EV, ROIC and FCF are not meaningful (stockanalysis shows negative FCF due to lending movements); valued on P/B and P/E, and payouts are measured against net income. Dividends paid over the last 12 months (SEK 33.5bn) exceed net income (31.2bn), so there is no payout plus; the policy is 60–70%. The share is +47% over one year and 8% above the average analyst price target. The Riksbank (1.75%) signals rate hikes that may lift NII; Q3 results in October. Baltic credit risk and property exposure have not been examined separately.
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