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Svenska Handelsbanken AB
(SHB.A)
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Rating:71Outperform
Price Target:
kr154.00
▲(7.35% Upside)
Action:Reiterated
Date:07/18/26
The score is driven primarily by solid profitability and improved recent cash generation, tempered by high/rising leverage and softer TTM revenue. Valuation is a notable positive (moderate P/E and very high dividend yield), while technicals are constructive longer-term but mixed in the near term.
Positive Factors
Profitability
Svenska Handelsbanken's elevated TTM net and EBIT margins indicate a durable earnings engine that can support internal investment and payouts. Strong margins across recent periods suggest persistent pricing power in core lending and fee businesses, underpinning multi-month earnings resilience.
Negative Factors
High and Rising Leverage
Material leverage amplification and falling equity shrink loss-absorbing capacity and increase sensitivity to credit, market or funding stress. Over a multi-month horizon higher leverage constrains strategic flexibility, regulatory headroom and the ability to extend credit in tougher conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
Svenska Handelsbanken's elevated TTM net and EBIT margins indicate a durable earnings engine that can support internal investment and payouts. Strong margins across recent periods suggest persistent pricing power in core lending and fee businesses, underpinning multi-month earnings resilience.
Read all positive factors
Svenska Handelsbanken AB (SHB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr293.96B
Dividend Yield11.91%
Average Volume (3M)4.26M
Price to Earnings (P/E)12.4
Beta (1Y)0.73
Revenue Growth-19.24%
EPS Growth-9.09%
CountrySE
Employees11,669
SectorGeneral
Sector StrengthN/A
IndustryBanks - Diversified
Share Statistics
EPS (TTM)11.87
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 Ratio4.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr127.00Price Target Upside-11.47% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)11.44
Revenue Forecast (FY)kr56.63B
Svenska Handelsbanken AB Business Overview & Revenue Model
Company Description
Svenska Handelsbanken AB (publ), established in Stockholm, Sweden in 1871, delivers a comprehensive array of banking products and services to both individual and corporate clients. While its core markets include Sweden, the United Kingdom, Norway,...
How the Company Makes Money
Svenska Handelsbanken AB primarily makes money by earning interest income and fees from providing banking and financial services. A major revenue stream is net interest income: the bank takes deposits and other funding, then lends to households (e...
Svenska Handelsbanken AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 134.07B | 143.64B | 62.03B | 62.06B | 49.20B | 42.88B |
| Gross Profit | 56.60B | 56.80B | 62.03B | 62.13B | 49.20B | 42.88B |
| EBITDA | 32.26B | 32.77B | 36.85B | 38.02B | 31.14B | 25.53B |
| Net Income | 23.50B | 23.73B | 27.45B | 29.11B | 21.68B | 19.53B |
Balance Sheet | ||||||
| Total Assets | 3.87T | 3.39T | 3.54T | 3.54T | 3.45T | 3.35T |
| Cash, Cash Equivalents and Short-Term Investments | 602.05B | 465.07B | 542.54B | 482.45B | 480.47B | 292.84B |
| Total Debt | 1.79T | 1.75T | 1.84T | 1.85T | 1.67T | 1.44T |
| Total Liabilities | 3.69T | 3.19T | 3.33T | 3.33T | 3.26T | 3.17T |
| Stockholders Equity | 184.39B | 199.35B | 210.02B | 205.08B | 196.03B | 181.71B |
Cash Flow | ||||||
| Free Cash Flow | 74.11B | 54.20B | 46.02B | 21.34B | -39.63B | 47.69B |
| Operating Cash Flow | 74.62B | 54.73B | 46.96B | 23.13B | -38.13B | 49.42B |
| Investing Cash Flow | -29.00B | -27.75B | 15.75B | -1.52B | 48.21B | -752.00M |
| Financing Cash Flow | -101.80B | -102.85B | -33.41B | -41.80B | -1.05B | -26.80B |
Svenska Handelsbanken AB Technical Analysis
Positive
143.45
Price Trends
143.59
Positive
137.58
Positive
128.07
Positive
Market Momentum
1.20
Positive
55.98
Neutral
25.14
Neutral
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 143.45 is below the 20-day moving average (MA) of 146.56, below the 50-day MA of 143.59, and above the 200-day MA of 128.07, indicating a bullish trend. The MACD of 1.20 indicates Positive momentum. The RSI at 55.98 is Neutral, neither overbought nor oversold. The STOCH value of 25.14 is Neutral, 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | kr91.49B | 28.41 | 41.62% | 2.35% | 5.91% | 15.50% | |
73 Outperform | kr63.13B | 22.30 | 39.54% | 3.28% | 11.21% | 12.86% | |
73 Outperform | kr44.95B | 11.83 | ― | ― | 3.55% | ― | |
71 Outperform | kr293.96B | 12.38 | 12.52% | 12.20% | -19.24% | -9.09% | |
69 Neutral | kr418.97B | 13.45 | 14.70% | 5.51% | -12.92% | -7.93% | |
61 Neutral | kr429.54B | 13.85 | 13.93% | 3.89% | -14.03% | -2.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SHB.A
Svenska Handelsbanken AB
146.95
35.92
32.35%
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2.71%
Svenska Handelsbanken AB Corporate Events
Handelsbanken Balances Profit Pressure With Growth and Top-Tier Credit Strength
Jul 15, 2026
Handelsbanken reported softer quarterly results, with Q2 2026 operating profit down to SEK 6,678m and earnings per share at SEK 2.60, while adjusted operating profit fell 6 percent but asset quality remained strong with a zero credit loss ratio. F...
Handelsbanken Names New CEO for U.K. Unit and Interim Group CIO
Jun 11, 2026
Handelsbanken has appointed current Group Chief Information Officer Anton Romare Keller as the next CEO of its U.K. subsidiary, Handelsbanken plc, succeeding Mikael Sörensen, who will retire toward the end of 2026. Romare Keller will join the...
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.