Svenska Handelsbanken AB (SE:SHB.A)
:SHB.A
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Svenska Handelsbanken AB
(SHB.A)
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Rating:61Neutral
Price Target:
kr148.00
â–²(25.80% Upside)
Action:ReiteratedDate:02/06/26
The score is held back primarily by weak and volatile cash flow (negative operating and free cash flow in 2024–2025) alongside high balance-sheet leverage, despite strong 2025 revenue growth and adequate profitability. Technicals are moderately positive, and valuation is supportive with a reasonable P/E and very high dividend yield.
Positive Factors
Revenue Momentum
A pronounced 2025 revenue step-up signals durable top-line traction that can underpin sustained scale advantages. Higher revenue supports cross-sell, expands fee income opportunities and provides operating leverage if cost growth remains controlled, improving long-term earnings power.
Negative Factors
Weak Cash Generation
Negative operating and free cash flow over recent years reduces internal funding for lending, investment or dividends and increases reliance on external funding. Persistent cash conversion weakness raises questions about earnings quality and limits strategic flexibility under stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Momentum
A pronounced 2025 revenue step-up signals durable top-line traction that can underpin sustained scale advantages. Higher revenue supports cross-sell, expands fee income opportunities and provides operating leverage if cost growth remains controlled, improving long-term earnings power.
Read all positive factors
Svenska Handelsbanken AB (SHB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr238.86B
Dividend Yield11.24%
Average Volume (3M)4.26M
Price to Earnings (P/E)11.2
Beta (1Y)0.63
Revenue Growth-18.75%
EPS Growth-11.69%
CountrySE
Employees11,799
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)2.87
Shares Outstanding1,944,777,200
10 Day Avg. Volume4,490,503
30 Day Avg. Volume4,262,725
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)1.33
Price to Sales (P/S)1.85
P/FCF Ratio-5.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr138.33Price Target Upside17.58% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)10.48
Revenue Forecast (FY)kr55.72B
Svenska Handelsbanken AB Business Overview & Revenue Model
Company Description
Svenska Handelsbanken AB (publ) provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, the United States, Luxembourg, China, Germany, France, and Poland....
How the Company Makes Money
Svenska Handelsbanken AB generates revenue through a diversified portfolio of financial services. The primary source of income is interest income derived from loans offered to individuals and businesses. Additionally, the bank earns fees and commi...
Svenska Handelsbanken AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
56
Neutral
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 143.64B | 62.31B | 62.13B | 49.20B | 42.88B |
| Gross Profit | 56.80B | 62.31B | 62.20B | 49.20B | 42.88B |
| EBITDA | 32.77B | 0.00 | 38.01B | 31.14B | 25.53B |
| Net Income | 23.73B | 27.45B | 29.11B | 21.68B | 19.53B |
Balance Sheet | |||||
| Total Assets | 3.39T | 3.54T | 3.54T | 3.45T | 3.35T |
| Cash, Cash Equivalents and Short-Term Investments | 465.07B | 571.79B | 448.71B | 480.47B | 292.84B |
| Total Debt | 1.75T | 1.84T | 1.57T | 1.67T | 1.44T |
| Total Liabilities | 3.19T | 3.33T | 3.33T | 3.26T | 1.44T |
| Stockholders Equity | 199.35B | 210.02B | 205.08B | 196.03B | 181.71B |
Cash Flow | |||||
| Free Cash Flow | -46.82B | -33.57B | 21.66B | -39.80B | 47.65B |
| Operating Cash Flow | -46.29B | -32.63B | 23.13B | -38.30B | 49.38B |
| Investing Cash Flow | 123.00M | 15.75B | -1.52B | 48.21B | -752.00M |
| Financing Cash Flow | -29.70B | -33.41B | -41.80B | -1.05B | -26.80B |
Svenska Handelsbanken AB Technical Analysis
Positive
117.65
Price Trends
123.15
Negative
118.36
Positive
112.80
Positive
Market Momentum
-1.10
Positive
46.86
Neutral
-107.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SHB.A, the sentiment is Positive. The current price of 117.65 is below the 20-day moving average (MA) of 121.89, below the 50-day MA of 123.15, and above the 200-day MA of 112.80, indicating a neutral trend. The MACD of -1.10 indicates Positive momentum. The RSI at 46.86 is Neutral, neither overbought nor oversold. The STOCH value of -107.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SHB.A.
Svenska Handelsbanken AB Peers Comparison
UnderperformOutperform
Sector (68)
SE:SHB.A
Svenska Handelsbanken AB
117.65
17.45
17.41%
GB:0HBY
Skandinaviska Enskilda Banken AB
169.90
23.66
16.18%
GB:0H6T
Swedbank
307.90
97.00
45.99%
DE:SVHG
Svenska Handelsbanken AB Class B
18.92
4.97
35.66%
DE:SEBC
Skandinaviska Enskilda Banken AB Class C
15.90
2.06
14.89%
Svenska Handelsbanken AB Corporate Events
Handelsbanken Balances Lower 2025 Earnings With Cost Cuts, Strong Capital and Higher Dividend
Feb 4, 2026
Handelsbanken reported a decline in full-year 2025 operating profit to SEK 30.75bn from SEK 35.02bn and lower return on equity of 13.0% versus 14.6%, as lower market rates compressed net interest margins and total income fell 9%. Despite this, the...
Handelsbanken Sets Date for 2025 Annual Report Highlights and Investor Presentation
Feb 2, 2026
Handelsbanken will publish its Highlights of the Annual Report for January–December 2025 on Wednesday, 4 February, at 07:00 a.m. CET, accompanied by a slide presentation and Fact Book on the bank’s investor relations website. CEO Micha...
Handelsbanken Sets 4 February Date for 2025 Year-End Results Presentation
Jan 21, 2026
Handelsbanken will publish its Highlights of the Annual Report for January–December 2025 at 07:00 a.m. CET on Wednesday, 4 February, accompanied by a slide presentation and fact book on its investor relations website. Chief Executive Officer...
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.