Nordnet AB (SAVE) AI Stock Analysis

• Market Cap: €69.60B
• Dividend Yield: 2.98%
• Average Volume (3M): 182.79K
• Price to Earnings (P/E): 24.6
• Beta (1Y): 0.98
• Revenue Growth: 2.54%
• EPS Growth: 4.51%
• Country: SE
• Employees: 793
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 2.86
• Shares Outstanding: 250,206,510
• 10 Day Avg. Volume: 150,027
• 30 Day Avg. Volume: 182,794
• PEG Ratio: 2.04
• Price to Book (P/B): 7.44
• Price to Sales (P/S): 11.44
• P/FCF Ratio: 10.09
• 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: €262.01
• Price Target Upside: -2.74% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: kr306.00 ▲(13.59% Upside)

Nordnet AB's overall stock score is driven by strong financial performance, characterized by robust revenue growth and stable balance sheet metrics. Technical analysis presents mixed signals with a slight short-term bearish trend but overall positive momentum. The valuation is slightly high, but the dividend yield offers some compensation. The absence of earnings call data and corporate events does not impact the score.

Nordnet AB Business Overview & Revenue Model

Company Description

Nordnet AB (publ) engages in the investments and savings, pensions, and loans businesses in Sweden, Norway, Denmark, and Finland. The company offers digital platform for savings and investment products, such as stocks, mutual funds, and other securities through website, app, or other applications; portfolio lending, residential mortgages, and personal unsecured loans; and pension savings. It operates Shareville, a social investment network that allows customers to follow other investors and see their investments. The company was founded in 1996 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Nordnet makes money primarily through its revenue model, which includes several key streams. Firstly, the company earns commission fees from trading activities conducted on its platform, charging users a fee for each executed trade. Additionally, Nordnet generates revenue from management fees associated with its investment funds and savings accounts. Another significant source of income comes from interest on customer deposits, as well as fees for premium services and features offered to investors. The company has also formed strategic partnerships with various financial institutions to enhance its service offerings, contributing to its overall earnings. By continuously expanding its product line and improving customer engagement, Nordnet aims to solidify its position in the competitive financial services landscape.

Nordnet AB Financial Statement Overview

Summary

Nordnet AB demonstrates strong financial performance with consistent revenue growth and high profit margins. The balance sheet is stable with low leverage, although there is room for improving return on equity. Cash flow is resilient but shows some volatility in operating cash flow.

Income Statement

Nordnet AB exhibits strong income statement metrics with consistent revenue growth. The revenue grew from 5,061 million SEK in 2023 to 5,165 million SEK in 2024, demonstrating a solid growth trajectory. The gross profit margin is exceptionally high, indicating efficient cost management. EBIT and net profit margins are robust, reflecting strong operational performance.

Balance Sheet

The balance sheet is stable with a low debt-to-equity ratio due to significant equity relative to debt, reflecting strong leverage management. The equity ratio has improved, indicating a solid capital structure. However, the relatively low return on equity suggests there is room for improving profitability on shareholders' equity.

Cash Flow

Cash flow performance shows resilience with a healthy free cash flow despite fluctuations in operating cash flow. The free cash flow to net income ratio suggests effective conversion of profits into cash. However, the previous volatility in operating cash flow indicates some inconsistency in cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.82B	5.98B	5.19B	3.74B	3.74B	2.83B
Gross Profit	5.31B	5.17B	4.58B	3.36B	3.52B	2.64B
EBITDA	2.89B	3.68B	3.34B	2.21B	2.61B	1.60B
Net Income	2.88B	2.81B	2.58B	1.65B	1.98B	1.17B
Balance Sheet
Total Assets	283.51B	273.22B	222.25B	206.91B	232.54B	167.99B
Cash, Cash Equivalents and Short-Term Investments	1.81B	3.79B	4.19B	3.73B	4.25B	3.10B
Total Debt	900.00M	217.50M	1.57B	163.60M	195.23M	199.63M
Total Liabilities	276.18B	265.29B	214.55B	200.86B	226.55B	163.78B
Stockholders Equity	7.33B	7.94B	7.70B	6.05B	5.99B	4.21B
Cash Flow
Free Cash Flow	16.76B	5.85B	-12.63B	6.33B	13.44B	11.80B
Operating Cash Flow	17.03B	6.10B	-12.60B	6.49B	13.61B	11.90B
Investing Cash Flow	-15.73B	-3.42B	13.95B	-5.75B	-12.20B	-9.10B
Financing Cash Flow	-2.37B	-2.61B	-877.50M	-1.43B	-236.80M	22.17M

Nordnet AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 269.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SAVE, the sentiment is Neutral. The current price of 269.4 is below the 20-day moving average (MA) of 276.10, below the 50-day MA of 276.69, and above the 200-day MA of 260.19, indicating a neutral trend. The MACD of -1.84 indicates Positive momentum. The RSI at 46.03 is Neutral, neither overbought nor oversold. The STOCH value of 16.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SAVE.

Nordnet AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SWED.A	74 Outperform	kr327.80B	9.94	15.50%	7.57%	-14.95%	-4.73%
SAVE	72 Outperform	€69.60B	24.57	41.80%	2.98%	2.54%	4.51%
SEB.A	71 Outperform	kr364.74B	11.61	13.97%	4.80%	-13.83%	-12.61%
SHB.A	70 Outperform	kr251.43B	10.11	12.67%	11.93%	-18.75%	-11.69%
AZA	68 Neutral	kr57.41B	21.92	42.92%	3.32%	7.33%	23.01%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KINV.A	56 Neutral	€23.97B	199.46	―	―	-97.64%	―

Nordnet AB Corporate Events

Nordnet Reports Stable Q3 2025 Results with Strong Customer Growth

Nordnet AB reported a stable financial performance for the third quarter of 2025, with an adjusted operating profit of SEK 904 million. The company saw a 22% increase in trades and significant customer growth, with 70,000 new savers and net savings of SEK 20.8 billion. Despite a decrease in net interest income and a one-time administrative loss, Nordnet maintained strong capital and continued its share repurchase program. The company’s app also received the Red Dot Design Award, highlighting its commitment to innovation.

The most recent analyst rating on (SE:SAVE) stock is a Hold with a SEK285.00 price target. To see the full list of analyst forecasts on Nordnet AB stock, see the SE:SAVE Stock Forecast page.

Nordnet Announces Increase in Shares and Votes

Nordnet AB announced an increase in the number of shares and votes due to the repurchase of warrants and the exercise of warrants under its 2022/2025 program. This adjustment results in a total of 252,340,783 shares, with ordinary shares trading on Nasdaq Stockholm, reflecting Nordnet’s ongoing strategic financial maneuvers.

The most recent analyst rating on (SE:SAVE) stock is a Buy with a SEK306.00 price target. To see the full list of analyst forecasts on Nordnet AB stock, see the SE:SAVE Stock Forecast page.