Want to see SE:SWED.A full AI Analyst Report?
Top Page
Swedbank
(SWED.A)
Select Model
Select Model
Rating:68Neutral
Price Target:
kr399.00
â–²(20.69% Upside)
Action:Downgraded
Date:04/30/26
The score is primarily supported by attractive valuation (moderate P/E and high dividend yield) and solid profitability. It is tempered by financial-statement risks—especially recurring negative operating/free cash flow and high bank-style leverage—and only mixed near-term technical momentum.
Positive Factors
Sustained Profitability
Swedbank’s consistently strong net and EBIT margins indicate durable core profitability from lending and fee businesses. High margins provide a buffer against cyclical credit losses and support internal capital generation, enabling dividends and reinvestment over the medium term.
Negative Factors
Cash Flow Volatility
Repeated negative operating and free cash flows reduce confidence in earnings quality and internal funding. Persistent cash volatility can limit the bank’s ability to build buffers, invest, or sustain dividends without relying more on wholesale funding or capital actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Profitability
Swedbank’s consistently strong net and EBIT margins indicate durable core profitability from lending and fee businesses. High margins provide a buffer against cyclical credit losses and support internal capital generation, enabling dividends and reinvestment over the medium term.
Read all positive factors
Swedbank (SWED.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr410.89B
Dividend Yield6.87%
Average Volume (3M)1.44M
Price to Earnings (P/E)13.1
Beta (1Y)0.88
Revenue Growth-18.32%
EPS Growth-7.79%
CountrySE
Employees16,933
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)28.39
Shares Outstanding1,132,005,700
10 Day Avg. Volume1,629,072
30 Day Avg. Volume1,444,211
Financial Highlights & Ratios
PEG Ratio-1.85
Price to Book (P/B)1.60
Price to Sales (P/S)3.11
P/FCF Ratio-7.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr322.67Price Target Upside-2.40% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)27.2
Revenue Forecast (FY)kr71.07B
Swedbank Business Overview & Revenue Model
Company Description
Swedbank AB (publ) functions as a comprehensive financial services provider, extending a diverse range of banking products and services to both individual and corporate clients. The company organizes its operations across three primary divisions: ...
How the Company Makes Money
Swedbank makes money primarily through a mix of net interest income, fee and commission income, and other financial income typical of a universal bank.
1) Net interest income (core earnings driver): The bank earns interest on assets such as mortg...
Swedbank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 114.81B | 115.94B | 144.06B | 131.14B | 64.54B | 49.66B |
| Gross Profit | 68.44B | 69.49B | 73.33B | 72.25B | 51.29B | 46.70B |
| EBITDA | 42.28B | 43.48B | 47.15B | 45.63B | 29.58B | 27.50B |
| Net Income | 31.91B | 32.76B | 34.87B | 34.13B | 21.36B | 20.87B |
Balance Sheet | ||||||
| Total Assets | 3.19T | 3.06T | 3.01T | 2.86T | 2.85T | 2.75T |
| Cash, Cash Equivalents and Short-Term Investments | 384.76B | 263.63B | 325.60B | 252.99B | 365.99B | 360.15B |
| Total Debt | 1.02T | 909.93B | 923.10B | 873.63B | 881.36B | 808.09B |
| Total Liabilities | 2.99T | 2.84T | 2.79T | 2.66T | 2.68T | 2.59T |
| Stockholders Equity | 199.09B | 225.80B | 218.87B | 198.76B | 176.06B | 161.67B |
Cash Flow | ||||||
| Free Cash Flow | -45.89B | -46.68B | 80.41B | -146.00B | -18.98B | 49.16B |
| Operating Cash Flow | -45.34B | -46.19B | 80.82B | -145.15B | -18.62B | 49.41B |
| Investing Cash Flow | -3.78B | -3.82B | -147.00M | -418.00M | 691.00M | 628.00M |
| Financing Cash Flow | -35.71B | -1.43B | -12.64B | 32.17B | 10.02B | 14.15B |
Swedbank Technical Analysis
Positive
330.60
Price Trends
346.39
Positive
331.28
Positive
307.27
Positive
Market Momentum
6.26
Positive
65.24
Neutral
70.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SWED.A, the sentiment is Positive. The current price of 330.6 is below the 20-day moving average (MA) of 362.35, below the 50-day MA of 346.39, and above the 200-day MA of 307.27, indicating a bullish trend. The MACD of 6.26 indicates Positive momentum. The RSI at 65.24 is Neutral, neither overbought nor oversold. The STOCH value of 70.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SWED.A.
Swedbank Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr61.23B | 21.70 | 37.34% | 3.34% | 11.21% | 12.86% | |
73 Outperform | kr277.87B | 11.65 | 12.67% | 11.24% | -19.24% | -9.09% | |
73 Outperform | kr91.52B | 30.75 | 39.30% | 3.01% | -1.40% | 6.78% | |
68 Neutral | kr410.89B | 13.06 | 15.50% | 6.87% | -18.32% | -7.79% | |
64 Neutral | kr414.79B | 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:SWED.A
Swedbank
370.70
147.79
66.30%
SE:AZA
Avanza Bank Holding AB
389.30
44.80
13.00%
SE:SEB.A
Skandinaviska Enskilda Banken AB
215.30
61.23
39.74%
SE:SHB.A
Svenska Handelsbanken AB
139.85
38.16
37.53%
SE:SAVE
Nordnet AB
369.60
97.61
35.89%
Swedbank Corporate Events
Swedbank Sets July 17 Release for Q2 2026 Interim Report
Jul 3, 2026
Swedbank will publish its interim report for the second quarter of 2026 on 17 July at 7:00 a.m. CEST, followed by a conference call for investors and analysts at 9:30 a.m. featuring the bank’s top executives. The report, along with a recordi...
Swedbank Delivers Stable Q1 2026 Amid Higher Costs and Reorganisation Drive
Apr 29, 2026
Swedbank reported a stable first-quarter 2026 performance in a challenging external environment, with total income of SEK 17.1bn and net interest income rising year-on-year, but profit for the period falling 10% to SEK 7.3bn as higher expenses wei...
Swedbank Names Acting Head for Reorganised Group Business Support Unit
Apr 28, 2026
Swedbank has appointed Henrik Liljeblad as Acting Head of Group Business Support and Subsidiaries and a member of the Group Executive Committee, effective 1 May, following the departure of current head Kerstin Winlöf. Liljeblad, who has led t...
Swedbank Boosts Sustainable Financing and Updates Funding Framework in 2025
Apr 23, 2026
Swedbank expanded its sustainable financing activities in 2025, growing its Sustainable Asset Register of green and social assets to SEK 165 billion by year-end, a 30 per cent increase from 2024. This expansion was largely driven by financing for ...
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.