Noba Bank Group AB (NOBA) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 2.00M
• Price to Earnings (P/E): 20.3
• Beta (1Y): 0.61
• Revenue Growth: 6.63%
• EPS Growth: N/A
• Country: SE
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Diversified
• EPS (TTM): 2.00
• Shares Outstanding: 500,000,000
• 10 Day Avg. Volume: 366,984
• 30 Day Avg. Volume: 2,000,007
• PEG Ratio: 0.26
• Price to Book (P/B): 2.01
• Price to Sales (P/S): 3.15
• P/FCF Ratio: 6.77
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr110.50
• Price Target Upside: -9.96% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: kr131.00 ▲(6.75% Upside)

Noba Bank Group AB's strong financial performance, characterized by robust revenue growth and improved profitability, is the primary driver of its stock score. Technical indicators suggest bullish momentum, although overbought conditions may pose short-term risks. The valuation is moderate, with a P/E ratio that aligns with industry standards, but the lack of a dividend yield may deter some investors.

Positive Factors

Revenue Growth

The consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion and profitability.

Profitability Margins

Improved profitability margins reflect operational efficiency and cost management, contributing to sustainable financial health.

Balance Sheet Health

A stable debt-to-equity ratio indicates prudent financial management, ensuring long-term stability and reduced financial risk.

Negative Factors

Cash Flow Efficiency

Suboptimal cash flow efficiency can limit reinvestment capabilities and affect the company's ability to fund growth initiatives.

Gross Profit Margin

A slight decline in gross profit margin could indicate rising costs or pricing pressures, potentially impacting future profitability.

Dividend Policy

Lack of dividends might deter income-seeking investors, potentially affecting the stock's appeal and market demand.

Noba Bank Group AB Business Overview & Revenue Model

Company Description

NOBA Bank Group AB (publ) provides financial and banking products and services in Sweden, Norway, Finland, Denmark, Germany, Spain, Ireland, and the Netherlands. The company operates through three brands namely, Nordax Bank, Bank Norwegian and Svensk Hypotekspension. The company's services include private loans, credit cards, specialist mortgages, equity release mortgages, cross-border lending, and deposits for retail customers. The company was formerly known as Nordax Bank AB (publ) and changed its name to NOBA Bank Group AB (publ) in June 2023. NOBA Bank Group AB (publ) was incorporated in 2003 and is based in Stockholm, Sweden.

How the Company Makes Money

Noba Bank Group AB generates revenue through various channels, including interest income from loans and mortgages, fees from account services and transactions, and commissions from investment products. The bank's primary revenue stream comes from lending activities, where it charges interest on loans provided to individuals and businesses. Additionally, NOBA earns fees from transactional services such as wire transfers, account maintenance, and payment processing. The company may also engage in partnerships with fintech firms to expand its service offerings and enhance its digital platform, further contributing to its revenue through shared commissions and increased customer acquisition.

Noba Bank Group AB Financial Statement Overview

Summary

Noba Bank Group AB exhibits strong financial performance with significant revenue growth and improved profitability margins. The balance sheet reflects a stable financial position with effective leverage management. Cash flow metrics indicate a positive trend, although there is potential for further enhancement in cash flow efficiency.

Income Statement

Noba Bank Group AB has demonstrated strong revenue growth with a 24.14% increase in 2024, following a significant 49.04% growth in 2023. The gross profit margin remains robust at 66.42%, although slightly down from previous years. Net profit margin improved to 13.85% in 2024, indicating enhanced profitability. EBIT and EBITDA margins have also shown improvement, reflecting operational efficiency gains.

Balance Sheet

The company maintains a stable debt-to-equity ratio of 0.89, showing a slight improvement from previous years, which indicates prudent financial leverage management. Return on equity has improved to 8.81%, suggesting better utilization of equity. The equity ratio remains strong, indicating a solid capital structure.

Cash Flow

Noba Bank Group AB has shown a positive turnaround in free cash flow growth at 3.44% in 2024, recovering from negative growth in previous years. The operating cash flow to net income ratio is positive, indicating good cash generation relative to net income. However, the free cash flow to net income ratio is slightly below 1, suggesting room for improvement in cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.19B	14.44B	11.63B	7.80B	3.05B	2.24B
Gross Profit	8.23B	9.59B	8.11B	6.52B	2.57B	0.00
EBITDA	4.17B	3.08B	1.80B	1.78B	29.00M	704.00M
Net Income	3.03B	2.00B	1.07B	882.00M	-40.00M	549.00M
Balance Sheet
Total Assets	166.58B	159.14B	138.06B	119.33B	108.58B	33.07B
Cash, Cash Equivalents and Short-Term Investments	400.00M	9.31B	1.17B	3.72B	1.92B	0.00
Total Debt	26.85B	20.29B	18.30B	19.69B	19.21B	5.34B
Total Liabilities	141.76B	136.47B	118.07B	99.57B	89.63B	29.72B
Stockholders Equity	24.82B	22.68B	19.99B	19.75B	18.95B	3.35B
Cash Flow
Free Cash Flow	11.51B	6.72B	-2.75B	2.64B	5.21B	1.56B
Operating Cash Flow	11.69B	6.85B	-2.68B	2.68B	5.22B	1.57B
Investing Cash Flow	-13.09B	-134.00M	-75.00M	-60.00M	-13.65B	-3.25B
Financing Cash Flow	4.24B	690.00M	-56.00M	-431.00M	11.23B	2.31B

Noba Bank Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SWED.A	74 Outperform	kr367.38B	11.14	15.50%	6.87%	-14.95%	-4.73%
NOBA	71 Outperform	―	20.25	―	―	6.63%	―
SEB.A	71 Outperform	kr399.01B	12.71	13.97%	4.41%	-13.83%	-12.61%
AZA	68 Neutral	kr53.80B	20.47	42.92%	3.34%	7.33%	23.01%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SAVE	64 Neutral	kr66.80B	23.59	41.80%	3.01%	2.54%	4.51%

Noba Bank Group AB Corporate Events

NOBA Bank Group Raises SEK 300 Million via Tap of Senior Preferred Bonds

NOBA Bank Group AB has tapped its outstanding senior preferred bond maturing in October 2028 with an additional SEK 300 million issuance, priced at 3‑month STIBOR plus 1.25%, with settlement scheduled for 30 December 2025. The transaction, executed under NOBA’s SEK 10 billion MTN programme with Nordea and Swedbank as lead managers, strengthens the bank’s wholesale funding base and supports its capacity to finance continued growth and operations across its Nordic and broader regional markets.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK131.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group to Enter SME Lending with SEK 403m Acquisition of DBT Capital

NOBA Bank Group AB has agreed to acquire Swedish SME lender DBT Capital AB for SEK 403 million in cash, aiming to establish an SME lending vertical and support its target of expanding its loan portfolio to SEK 250 billion by 2030. The deal, expected to close in the first quarter of 2026, combines NOBA’s scale and diversified funding with DBT’s digital lending platform and established brand in the Swedish SME market, positioning NOBA to benefit from the sector’s shift from traditional banks to specialist online lenders. DBT’s management will stay on and reinvest part of the proceeds in an incentive programme, while NOBA expects the transaction to be slightly dilutive to earnings per share in the short term, reduce its CET1 ratio by about 0.3 percentage points and incur SEK 15–20 million in transaction costs in the fourth quarter of 2025, but to be value-creating over the medium term.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK131.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group’s Credit Rating Outlook Upgraded to Positive

NOBA Bank Group AB has received an affirmed investment grade rating of BBB with an improved outlook from stable to positive by Nordic Credit Rating. This positive revision reflects the company’s strong market position and potential for future growth, which could enhance its operational capabilities and stakeholder confidence.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK131.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group Issues SEK 750 Million Additional Tier 1 Notes

NOBA Bank Group AB has successfully issued SEK 750 million in Additional Tier 1 notes, which are perpetual with a first call date five years after issuance. The notes, which will be listed on Nasdaq Stockholm, reflect the bank’s strategic financial maneuvers to strengthen its capital structure, potentially enhancing its market position and stakeholder confidence.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK123.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group Considers Issuing Additional Tier 1 Notes

NOBA Bank Group AB is considering issuing Additional Tier 1 notes and has appointed Nordea and SEB to lead investor meetings to assess market conditions for this potential issuance. This strategic move could strengthen NOBA’s capital structure, enhancing its financial stability and market positioning.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK123.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

Noba Bank Group AB Reports Robust Q3 2025 Performance and Strategic Milestones

Noba Bank Group AB reported a strong performance for the third quarter of 2025, with an 8% growth in its loan portfolio and a significant increase in operating profit and net profit compared to the previous year. Key events included the divestment of its stake in Stabelo, the issuance of warrants to align interests with management and key individuals, and its successful listing on Nasdaq Stockholm, which was oversubscribed multiple times, marking a new chapter for the company.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK123.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group Announces 2026 AGM Nomination Committee

NOBA Bank Group AB has announced the appointment of its Nomination Committee for the 2026 Annual General Meeting, reflecting its ownership structure as of September 2025. The committee includes representatives from Nordic Capital, Sampo, and OP Cooperative, with Robert Furuhjelm as Chairman. The meeting is scheduled for May 21, 2026, in Stockholm, allowing shareholders to submit proposals until January 30, 2026.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK123.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group to Announce Q3 2025 Results

NOBA Bank Group AB is set to release its third-quarter results for 2025 on November 11, accompanied by a presentation and fact book. A conference call will be held for investors, analysts, and media, where the CEO and CFO will present the results and engage in a Q&A session. This event is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction.

The most recent analyst rating on (SE:NOBA) stock is a Buy with a SEK123.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.

NOBA Bank Group Appoints New Employee Representative to Board

NOBA Bank Group AB has appointed Leslie Restovic Lopez as the new employee representative on its Board of Directors, following the resignation of Daniella Bertlin in September. This change is part of NOBA’s ongoing commitment to maintaining a diverse and effective board, which is crucial for its strategic operations and stakeholder engagement.

The most recent analyst rating on (SE:NOBA) stock is a Hold with a SEK99.00 price target. To see the full list of analyst forecasts on Noba Bank Group AB stock, see the SE:NOBA Stock Forecast page.