Swedbank (SE:SWED.A)
:SWED.A
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Swedbank
(SWED.A)
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Rating:68Neutral
Price Target:
kr352.00
â–²(6.47% Upside)
Action:DowngradedDate: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
Strong profitability
Swedbank’s reported net margins in the mid-to-high 20% and mid‑teens ROE indicate sustained ability to generate returns on equity. This margin profile provides durability across cycles, supporting internal capital generation and the capacity to absorb credit volatility without immediate structural profit impairment.
Negative Factors
Volatile cash generation
Repeated negative operating and free cash flow across multiple years undermines confidence in earnings convertibility to cash. For a bank, this complicates funding of dividends, reserves and growth without leaning on capital markets or balance-sheet actions, increasing structural financing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
Swedbank’s reported net margins in the mid-to-high 20% and mid‑teens ROE indicate sustained ability to generate returns on equity. This margin profile provides durability across cycles, supporting internal capital generation and the capacity to absorb credit volatility without immediate structural profit impairment.
Read all positive factors
Swedbank (SWED.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr363.23B
Dividend Yield6.87%
Average Volume (3M)1.44M
Price to Earnings (P/E)12.2
Beta (1Y)0.86
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
kr327.80Price Target Upside-0.85% Downside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)27.07
Revenue Forecast (FY)kr70.54B
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 an...
How the Company Makes Money
Swedbank makes money primarily by earning interest income and charging fees for banking and financial services.
1) Net interest income (lending vs. funding): A major revenue driver is the spread between (a) interest earned on interest-bearing ass...
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
314.86
Positive
303.53
Positive
276.16
Positive
Market Momentum
6.94
Negative
61.23
Neutral
76.70
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 above the 20-day moving average (MA) of 318.39, above the 50-day MA of 314.86, and above the 200-day MA of 276.16, indicating a bullish trend. The MACD of 6.94 indicates Negative momentum. The RSI at 61.23 is Neutral, neither overbought nor oversold. The STOCH value of 76.70 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | kr51.76B | 18.88 | 37.34% | 3.34% | 5.66% | 9.70% | |
73 Outperform | kr76.39B | 22.59 | 39.30% | 3.01% | -1.40% | 6.78% | |
68 Neutral | kr363.23B | 12.20 | 15.50% | 6.87% | -18.32% | -7.79% | |
64 Neutral | kr354.39B | 11.25 | 13.73% | 4.41% | -17.53% | -7.39% | |
61 Neutral | kr259.37B | 9.58 | 12.67% | 11.24% | -22.95% | -12.49% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SWED.A
Swedbank
323.90
96.35
42.35%
SE:AZA
Avanza Bank Holding AB
328.00
-4.36
-1.31%
SE:SEB.A
Skandinaviska Enskilda Banken AB
181.00
31.85
21.36%
SE:SHB.A
Svenska Handelsbanken AB
129.45
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16.68%
SE:SAVE
Nordnet AB
306.00
45.29
17.37%
Swedbank Corporate Events
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 ...
Swedbank Schedules Q1 2026 Interim Report and Investor Briefings
Apr 15, 2026
Swedbank will publish its interim report for the first quarter of 2026 on 29 April at 7:00 a.m. CEST, followed by a conference call for investors and analysts at 10:00 a.m. with President and CEO Jens Henriksson, CFO Jon Lidefelt and Head of Inves...
Swedbank AGM Confirms Board, Boosts Dividend and Capital Flexibility
Mar 24, 2026
Swedbank’s 2026 Annual General Meeting confirmed a largely unchanged board, re-electing ten members and appointing Rikard Josefson as a new director, with Göran Persson retained as chair and Biörn Riese named deputy chair. Sharehol...
Swedbank Publishes Q4 2025 Pillar 3 Risk and Capital Report
Feb 19, 2026
Swedbank has released its unaudited Risk Management and Capital Adequacy Report for the fourth quarter of 2025, detailing the bank’s risk profile and capital position as of 31 December 2025. The disclosure, prepared under EU and Swedish regu...
Swedbank Sets Hybrid Format for 2026 Annual General Meeting in Stockholm
Feb 18, 2026
Swedbank has convened its 2026 Annual General Meeting for 24 March at Cirkus in Stockholm, with proceedings starting at 11:00 am CET and simultaneous interpretation into English. Shareholders will be able to follow the meeting online without votin...
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.