Swedbank (SWED.A) AI Stock Analysis

• Market Cap: kr327.80B
• Dividend Yield: 7.23%
• Average Volume (3M): 1.44M
• Price to Earnings (P/E): 9.9
• Beta (1Y): 0.92
• Revenue Growth: -14.95%
• EPS Growth: -4.73%
• Country: SE
• Employees: 16,933
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 7.53
• Shares Outstanding: 1,132,005,700
• 10 Day Avg. Volume: 1,629,072
• 30 Day Avg. Volume: 1,444,211
• PEG Ratio: 3.34
• Price to Book (P/B): 1.12
• Price to Sales (P/S): 1.71
• P/FCF Ratio: 3.05
• 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: kr279.64
• Price Target Upside: -8.01% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: kr325.00 ▲(6.91% Upside)

Swedbank's strong financial performance and attractive valuation are the primary drivers of its overall score. The bank's robust revenue growth and profitability, combined with a high dividend yield and low P/E ratio, make it a compelling investment. Technical analysis indicates moderate strength, supporting a positive outlook. However, the high leverage and cash flow volatility warrant careful monitoring.

Swedbank Business Overview & Revenue Model

Company Description

Swedbank AB (publ) provides various banking products and services to individuals and companies. The company operates through Swedish Banking, Baltic Banking, and Large Corporates & Institutions segments. It offers savings accounts, mutual funds and insurance savings, pension savings, institutional asset management, and other savings and investment products; private residential lending, consumer financing, corporate lending, leasing, other financing products, trade finance, and factoring services; and current accounts, cash handling, debit and credit cards, card acquiring, other payment products, as well as domestic, international, mobile, and document payments. The company also provides equity trading, structured products, corporate finance, custody services, fixed income and currency trading, and other capital market products; and administrative services, treasury operations, real estate brokerage and management, legal services, safe deposit boxes, and others. In addition, it offers asset management, as well as life insurance and pension services; investment and trading services, including currency, fixed income, and equity and related derivatives services, as well as structured products; advisory and investment banking products and services, such as corporate financing, debt capital market, leveraged finance, and loans and syndication; and transaction banking services comprising cash management, trade finance, securities, commercial payments, account, and clearing and settlement services. Further, the company provides telephone, Internet, and mobile banking services. The company operates 153 branches in Sweden, 17 branches in Estonia, 21 in Latvia, and 42 in Lithuania. It also has operations in Norway, Finland, Denmark, China, the United States, and South Africa. The company was formerly known as ForeningsSparbanken AB and changed its name to Swedbank AB (publ) in September 2006. Swedbank AB (publ) was founded in 1820 and is headquartered in Sundbyberg, Sweden.

How the Company Makes Money

Swedbank generates revenue through various key streams, primarily from interest income, fees, and commissions. The bank earns interest income by lending to customers at higher rates than the interest it pays on deposits. Additionally, it charges fees for services such as account maintenance, transaction processing, and financial advisory. Swedbank also benefits from asset management fees for managing investment funds and portfolios for individual and institutional clients. Significant partnerships with businesses and governmental entities enhance its service offerings and drive additional revenue. Furthermore, Swedbank's engagement in sustainable finance initiatives positions it favorably to attract customers seeking responsible investment options, contributing to its earnings.

Swedbank Financial Statement Overview

Summary

Swedbank demonstrates strong revenue and profit growth with excellent margins, underscoring its effective operations in the banking industry. The balance sheet reflects a well-capitalized institution with high leverage, typical for the sector, yet manageable given current profitability. Cash flow statements show some volatility, but overall liquidity and cash generation remain solid. Swedbank's financials position it well for sustained performance, although attention to leverage and cash flow consistency is advisable.

Income Statement

Swedbank has demonstrated robust revenue growth, with a notable increase of 58.7% from 2024 to TTM (Trailing-Twelve-Months). The gross profit margin remains extremely high at 99.6%, indicating efficient cost management. Net profit margin is solid at 29.3%, driven by strong profitability. EBIT margin is also strong at 38.4%. These metrics highlight Swedbank's effective operational performance and profitability, positioning it well within the banking industry.

Balance Sheet

Swedbank's balance sheet is characterized by a high debt-to-equity ratio of 3.76, indicating significant leverage, which is typical for banks. However, the bank maintains a healthy equity ratio of 6.5%, reflecting a strong capital base. Return on equity is robust at 17.3%, showcasing effective use of shareholder equity to generate profits. Overall, Swedbank's balance sheet shows stability but relies heavily on leverage, which could pose risks if not managed carefully.

Cash Flow

The cash flow analysis reveals a significant decline in operating cash flow compared to prior periods, but the current free cash flow of 43.8 billion is a positive indicator of liquidity. The operating cash flow to net income ratio is 1.28, reflecting solid cash generation relative to net income. Despite recent fluctuations, the cash flow position remains strong, providing Swedbank with the financial flexibility needed for future growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	124.37B	144.06B	131.14B	64.54B	49.66B	51.86B
Gross Profit	69.12B	73.33B	72.25B	51.29B	46.70B	45.09B
EBITDA	43.94B	47.15B	45.63B	29.58B	27.50B	18.36B
Net Income	33.07B	34.87B	34.13B	21.36B	20.87B	12.93B
Balance Sheet
Total Assets	3.13T	3.01T	2.86T	2.85T	2.75T	2.59T
Cash, Cash Equivalents and Short-Term Investments	0.00	325.60B	252.99B	365.99B	360.15B	293.81B
Total Debt	1.05T	923.10B	873.63B	881.36B	808.09B	770.68B
Total Liabilities	2.91T	2.79T	2.66T	2.68T	2.59T	2.44T
Stockholders Equity	217.74B	218.87B	198.76B	176.06B	161.67B	155.17B
Cash Flow
Free Cash Flow	57.32B	80.41B	-146.00B	-18.98B	49.16B	108.87B
Operating Cash Flow	57.82B	80.82B	-145.15B	-18.62B	49.41B	109.24B
Investing Cash Flow	-580.00M	-147.00M	-418.00M	691.00M	628.00M	1.38B
Financing Cash Flow	-12.85B	-12.64B	32.17B	10.02B	14.15B	-8.70B

Swedbank Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 304.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 304 is above the 20-day moving average (MA) of 293.25, above the 50-day MA of 288.85, and above the 200-day MA of 258.80, indicating a bullish trend. The MACD of 3.01 indicates Negative momentum. The RSI at 68.46 is Neutral, neither overbought nor oversold. The STOCH value of 98.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SWED.A.

Swedbank 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%	7.23%	-14.95%	-4.73%
SAVE	72 Outperform	€69.60B	24.57	41.80%	2.99%	2.54%	4.51%
SEB.A	71 Outperform	kr364.74B	11.61	13.97%	4.52%	-13.83%	-12.61%
SHB.A	70 Outperform	kr251.43B	10.11	12.67%	11.46%	-18.75%	-11.69%
AZA	68 Neutral	kr57.41B	21.92	42.92%	3.23%	7.33%	23.01%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Swedbank Corporate Events

Swedbank Secures SEK 837 Million VAT Refund

Swedbank has been granted a VAT refund of SEK 837 million by the Swedish Tax Agency for overpayments made in 2019, 2020, 2022, and 2023. This decision follows the approval of a new method for calculating deductible VAT, reflecting positively on Swedbank’s financial position and potentially impacting its stakeholders by enhancing its operational efficiency.

The most recent analyst rating on ($SE:SWED.A) stock is a Hold with a SEK289.84 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.

Swedbank Reports Strong Q3 2025 Performance with Increased Profit

Swedbank’s third-quarter 2025 report highlights a return on equity of 16.0% and solid credit quality, maintaining its position as the most loved brand in the Baltics for the seventh consecutive year. Despite a slight decline in total income and net interest income compared to the previous year, the bank reported an 8% increase in profit for the period, reflecting the effectiveness of its customer-focused strategy.

The most recent analyst rating on ($SE:SWED.A) stock is a Hold with a SEK276.00 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.

Swedbank Announces Nomination Committee for 2026 AGM

Swedbank has announced the members of its Nomination Committee for the Annual General Meeting (AGM) scheduled for March 2026 in Stockholm. The committee is tasked with preparing proposals for the election of the Chair of the AGM, board members, and external auditor, as well as determining board remuneration and the auditor’s fee. This announcement is significant for stakeholders as it outlines the governance and decision-making processes leading up to the AGM, potentially impacting the bank’s strategic direction and leadership.

The most recent analyst rating on ($SE:SWED.A) stock is a Hold with a SEK272.72 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.

SEC Closes Investigation into Swedbank Without Enforcement

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Swedbank without enforcement action, marking the resolution of one of the historical inquiries into the bank’s past disclosures. However, investigations by the U.S. Department of Justice and the Department of Financial Services in New York remain ongoing, with no current assessment of their potential financial impact or timeline for conclusion.

The most recent analyst rating on ($SE:SWED.A) stock is a Sell with a SEK272.00 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.

Swedbank and SpareBank 1 Launch SB1 Markets to Expand Investment Banking Services

Swedbank, in partnership with SpareBank 1, has launched SB1 Markets, an investment bank operating in Sweden, Norway, and the US. This initiative enhances Swedbank’s investment banking services, offering corporate finance, debt and equity markets, and research services. The collaboration aims to meet the evolving needs of corporate and institutional clients, leveraging Swedbank’s market expertise and distribution network to deliver high-quality services.

The most recent analyst rating on ($SE:SWED.A) stock is a Hold with a SEK282.00 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.

Swedbank Acquires Full Ownership of Entercard, Expanding Nordic Card Business

Swedbank has announced its acquisition of Barclays’ stake in Entercard, making Entercard a wholly owned subsidiary. This strategic move positions Swedbank as the largest card business in the Nordics and Baltics, enhancing its customer offerings and business opportunities. While the acquisition will slightly impact Swedbank’s capital ratio, it aligns with the bank’s long-term business strategy and awaits regulatory approval.

The most recent analyst rating on ($SE:SWED.A) stock is a Hold with a SEK282.00 price target. To see the full list of analyst forecasts on Swedbank stock, see the SE:SWED.A Stock Forecast page.