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Skandinaviska Enskilda Banken AB
(SEB.A)
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Rating:61Neutral
Price Target:
kr227.00
▲(22.94% Upside)
Action:Reiterated
Date:07/18/26
The score is held back primarily by financial-quality concerns—especially the sharply negative and volatile free cash flow and increased leverage—despite solid margins and ROE. Technicals are supportive due to a strong uptrend, but overbought indicators temper the near-term outlook. Valuation is a relative positive with a reasonable P/E and a ~3.95% dividend yield.
Positive Factors
Strong profitability and margins
Sustained high margins and mid-teens ROE indicate SEB can convert revenue into lasting profits. Robust margins provide a durable buffer vs cyclical shocks, support internal capital generation for investments and dividends, and help preserve profitability if top-line growth slows.
Negative Factors
Very weak free cash flow
Persistently large negative free cash flow undermines financial flexibility and forces reliance on external funding. It constrains capacity for capital returns, strategic investments or buffer building, increasing vulnerability to funding stress and limiting management options in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and margins
Sustained high margins and mid-teens ROE indicate SEB can convert revenue into lasting profits. Robust margins provide a durable buffer vs cyclical shocks, support internal capital generation for investments and dividends, and help preserve profitability if top-line growth slows.
Read all positive factors
Skandinaviska Enskilda Banken AB (SEB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr421.47B
Dividend Yield3.95%
Average Volume (3M)2.22M
Price to Earnings (P/E)13.8
Beta (1Y)0.96
Revenue Growth-14.03%
EPS Growth-2.92%
CountrySE
Employees18,400
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)15.84
Shares Outstanding1,961,308,600
10 Day Avg. Volume2,268,313
30 Day Avg. Volume2,224,171
Financial Highlights & Ratios
PEG Ratio-1.15
Price to Book (P/B)1.69
Price to Sales (P/S)2.55
P/FCF Ratio12.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr181.00Price Target Upside-1.98% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)16.11
Revenue Forecast (FY)kr78.04B
Skandinaviska Enskilda Banken AB Business Overview & Revenue Model
Company Description
Skandinaviska Enskilda Banken AB (publ), or SEB, is a comprehensive financial services group offering corporate, retail, investment, and private banking solutions to a diverse client base. The organization operates through distinct divisions: Larg...
How the Company Makes Money
SEB makes money primarily by earning (1) net interest income and (2) net fee and commission income, supplemented by (3) financial/trading income and (4) insurance and other income.
1) Net interest income (lending spread): SEB takes deposits and o...
Skandinaviska Enskilda Banken AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 147.52B | 152.48B | 185.76B | 167.83B | 87.17B | 60.89B |
| Gross Profit | 74.30B | 76.94B | 81.61B | 79.96B | 64.47B | 55.61B |
| EBITDA | 41.22B | 41.37B | 48.21B | 49.93B | 35.63B | 32.77B |
| Net Income | 31.15B | 31.06B | 35.87B | 38.12B | 26.88B | 25.42B |
Balance Sheet | ||||||
| Total Assets | 4.35T | 3.67T | 3.76T | 3.61T | 3.53T | 3.30T |
| Cash, Cash Equivalents and Short-Term Investments | 524.38B | 299.86B | 3.10B | 409.07B | 2.22B | 443.32B |
| Total Debt | 954.19B | 844.18B | 460.38B | 5.73B | 369.89B | 765.44B |
| Total Liabilities | 4.13T | 3.44T | 3.53T | 3.39T | 3.33T | 3.11T |
| Stockholders Equity | 225.77B | 230.26B | 231.15B | 221.78B | 204.52B | 193.23B |
Cash Flow | ||||||
| Free Cash Flow | -247.99B | 31.85B | -35.62B | -39.42B | -71.19B | 129.65B |
| Operating Cash Flow | 22.84B | 33.20B | -34.43B | -38.39B | -70.17B | 130.29B |
| Investing Cash Flow | -153.77B | 6.98B | -5.00B | -607.00M | -805.00M | -846.00M |
| Financing Cash Flow | 144.45B | -45.68B | -15.80B | -19.33B | -17.83B | -22.23B |
Skandinaviska Enskilda Banken AB Technical Analysis
Positive
184.65
Price Trends
190.22
Positive
183.71
Positive
180.59
Positive
Market Momentum
6.21
Negative
80.95
Negative
88.98
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SEB.A, the sentiment is Positive. The current price of 184.65 is below the 20-day moving average (MA) of 198.77, below the 50-day MA of 190.22, and above the 200-day MA of 180.59, indicating a bullish trend. The MACD of 6.21 indicates Negative momentum. The RSI at 80.95 is Negative, neither overbought nor oversold. The STOCH value of 88.98 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SEB.A.
Skandinaviska Enskilda Banken AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr59.81B | 21.13 | 37.34% | 3.34% | 11.21% | 12.86% | |
71 Outperform | kr278.37B | 11.59 | 12.67% | 11.24% | -19.24% | -9.09% | |
69 Neutral | kr403.27B | 12.67 | 15.50% | 6.87% | -12.92% | -7.93% | |
66 Neutral | kr278.37B | 11.59 | ― | 3.34% | -19.24% | -9.09% | |
61 Neutral | kr421.47B | 13.85 | 13.73% | 4.41% | -14.03% | -2.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SEB.A
Skandinaviska Enskilda Banken AB
215.30
57.94
36.82%
SE:AZA
Avanza Bank Holding AB
379.00
39.51
11.64%
SE:SHB.A
Svenska Handelsbanken AB
139.05
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SE:SWED.A
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359.60
131.78
57.85%
SE:SHB.B
Svenska Handelsbanken AB Class B
225.60
51.41
29.51%
Skandinaviska Enskilda Banken AB Corporate Events
SEB posts strong Q2 2026 results and boosts shareholder returns
Jul 15, 2026
SEB reported strong business momentum in the second quarter of 2026, combining positive operating jaws with continued cost discipline as net fee and commission income reached a new high on the back of increased client activity. The bank delivered ...
SEB Releases Detailed Q1 2026 Fact Book Covering Financial and Risk Metrics
Apr 29, 2026
SEB has published its Q1 2026 Fact Book for the period January to March 2026, providing a detailed breakdown of its financial performance and balance sheet metrics. The report covers income statements, key figures over multiple years, net interest...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.