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Swedbank
(SWED.A)
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Rating:69Neutral
Price Target:
kr394.00
â–²(6.20% Upside)
Action:Reiterated
Date:07/18/26
The score is primarily driven by mixed financial performance: strong profitability and ROE are offset by negative/volatile cash flow and rising leverage. Technicals add support with a clear uptrend and positive momentum, while valuation is favorable due to a moderate P/E and high dividend yield.
Positive Factors
High ROE and strong profitability
Sustained mid‑teens ROE (~15% TTM) indicates the bank earns strong returns on equity, supporting internal capital generation and shareholder distributions. Durable profitability gives management flexibility to invest in tech, absorb shocks and maintain franchise strength even if growth softens.
Negative Factors
Weak and volatile cash generation
Negative operating and free cash flows over recent periods reduce financial flexibility for lending growth, balance‑sheet rebuilds or sustained dividends. Swingy cash conversion increases reliance on external funding and raises execution risk during tougher credit or liquidity conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
High ROE and strong profitability
Sustained mid‑teens ROE (~15% TTM) indicates the bank earns strong returns on equity, supporting internal capital generation and shareholder distributions. Durable profitability gives management flexibility to invest in tech, absorb shocks and maintain franchise strength even if growth softens.
Read all positive factors
Swedbank (SWED.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr418.97B
Dividend Yield5.47%
Average Volume (3M)1.44M
Price to Earnings (P/E)13.5
Beta (1Y)0.89
Revenue Growth-12.92%
EPS Growth-7.93%
CountrySE
Employees17,293
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)27.77
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
kr349.00Price Target Upside-5.93% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)27.4
Revenue Forecast (FY)kr71.72B
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
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 115.13B | 115.94B | 144.06B | 131.14B | 64.54B | 49.66B |
| Gross Profit | 69.60B | 69.49B | 73.33B | 72.25B | 51.29B | 46.70B |
| EBITDA | 41.47B | 43.48B | 47.15B | 45.63B | 29.58B | 27.50B |
| Net Income | 31.22B | 32.76B | 34.87B | 34.13B | 21.36B | 20.87B |
Balance Sheet | ||||||
| Total Assets | 3.31T | 3.06T | 3.01T | 2.86T | 2.85T | 2.75T |
| Cash, Cash Equivalents and Short-Term Investments | 395.90B | 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 | 3.10T | 2.84T | 2.79T | 2.66T | 2.68T | 2.59T |
| Stockholders Equity | 207.04B | 225.80B | 218.87B | 198.76B | 176.06B | 161.67B |
Cash Flow | ||||||
| Free Cash Flow | -32.41B | -46.68B | 80.41B | -146.00B | -18.98B | 49.16B |
| Operating Cash Flow | -31.93B | -46.19B | 80.82B | -145.15B | -18.62B | 49.41B |
| Investing Cash Flow | -3.72B | -3.82B | -147.00M | -418.00M | 691.00M | 628.00M |
| Financing Cash Flow | -26.73B | -1.43B | -12.64B | 32.17B | 10.02B | 14.15B |
Swedbank Technical Analysis
Neutral
371.00
Price Trends
368.41
Positive
349.15
Positive
322.34
Positive
Market Momentum
2.05
Positive
48.69
Neutral
10.58
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SWED.A, the sentiment is Neutral. The current price of 371 is below the 20-day moving average (MA) of 379.13, above the 50-day MA of 368.41, and above the 200-day MA of 322.34, indicating a neutral trend. The MACD of 2.05 indicates Positive momentum. The RSI at 48.69 is Neutral, neither overbought nor oversold. The STOCH value of 10.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | kr91.49B | 28.41 | 41.62% | 2.35% | 5.91% | 15.50% | |
75 Outperform | kr12.99B | 17.21 | 22.19% | 3.29% | 17.46% | 13.75% | |
73 Outperform | kr63.13B | 22.30 | 39.54% | 3.28% | 11.21% | 12.86% | |
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:SWED.A
Swedbank
373.60
123.15
49.17%
SE:AZA
Avanza Bank Holding AB
400.00
50.68
14.51%
SE:SEB.A
Skandinaviska Enskilda Banken AB
219.40
50.97
30.26%
SE:SHB.A
Svenska Handelsbanken AB
146.95
35.92
32.35%
SE:SAVE
Nordnet AB
369.00
92.93
33.66%
SE:AVARDA
TF Bank AB
201.00
39.68
24.60%
Swedbank Corporate Events
Swedbank posts solid Q2 growth as DFS settlement closes historical probes
Jul 17, 2026
Swedbank reported strong volume growth across all four home markets in the second quarter of 2026, supported by a new organisational structure that management says is helping deliver on its financial plan. Total income rose 6% year-on-year to SEK ...
Swedbank Ends Historical Probes with USD 50 Million DFS Settlement
Jul 16, 2026
Swedbank has reached a USD 50 million settlement with the New York State Department of Financial Services over failures to disclose information in 2016 and 2018, bringing to an end all investigations into its historical shortcomings. The probes, l...
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...
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.