TF Bank AB (TFBANK) AI Stock Analysis

• Market Cap: €11.64B
• Dividend Yield: N/A
• Average Volume (3M): 88.78K
• Price to Earnings (P/E): 6.7
• Beta (1Y): 0.38
• Revenue Growth: 15.59%
• EPS Growth: 24.31%
• Country: SE
• Employees: 443
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 2.70
• Shares Outstanding: 64,650,000
• 10 Day Avg. Volume: 104,991
• 30 Day Avg. Volume: 88,783
• PEG Ratio: 0.21
• Price to Book (P/B): 2.83
• Price to Sales (P/S): 2.44
• P/FCF Ratio: -4.80
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: kr194.00 ▲(19.21% Upside)

TF Bank AB's overall stock score is driven by its strong balance sheet and attractive valuation, which are offset by challenges in cash flow generation and a mixed technical outlook. The absence of earnings call data and corporate events means these factors did not influence the score. The company's financial stability and low P/E ratio are significant positives, while cash flow management remains a key area for improvement.

Positive Factors

Strong Balance Sheet

A debt-free balance sheet with strong equity enhances financial stability, providing resilience against economic fluctuations and enabling strategic investments.

Revenue Growth

Consistent revenue growth indicates successful market penetration and product demand, supporting long-term business expansion and shareholder value.

Operational Efficiency

Strong operational efficiency reflects effective cost management and resource utilization, contributing to sustained profitability and competitive advantage.

Negative Factors

Cash Flow Challenges

Persistent cash flow challenges can strain liquidity and limit the ability to fund growth initiatives, necessitating improved cash management strategies.

Net Profit Margin Volatility

Volatility in net profit margins may indicate inconsistent cost control or revenue variability, potentially impacting long-term profitability and financial predictability.

Free Cash Flow Constraints

Negative free cash flow suggests limited financial flexibility for reinvestment and could hinder the company's ability to capitalize on growth opportunities.

TF Bank AB Business Overview & Revenue Model

Company Description

TF Bank AB (publ) provides consumer banking services and e-commerce solutions through a proprietary IT platform. The company operates in three segments: Consumer Lending, E-commerce Solutions, and Credit Cards. It provides savings accounts; unsecured consumer loans; and digital payment solutions, as well as credit cards. The company serves private individuals in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, and Austria. TF Bank AB (publ) was founded in 1987 and is headquartered in Borås, Sweden.

How the Company Makes Money

TF Bank AB generates revenue primarily through interest income from its lending activities, which includes personal loans and credit card offerings. The bank charges interest on the loans it provides to consumers, which constitutes a significant portion of its revenue stream. Additionally, TF Bank earns fees from its financial products, such as account maintenance fees and transaction fees associated with credit cards. The bank also generates income from its savings products, where it attracts deposits from customers and pays interest on those deposits. Furthermore, the company has established partnerships with various financial service providers that enhance its product offerings and contribute to its earnings through referral fees or shared revenue arrangements.

TF Bank AB Financial Statement Overview

Summary

TF Bank AB presents a mixed financial picture. The income statement shows strong revenue growth and profitability, although with some fluctuations in net profit margins. The balance sheet is a highlight, featuring no debt and robust equity, which provides financial stability and resilience. However, the cash flow statement indicates challenges in cash generation, with negative operating and free cash flows in recent periods. The company's overall financial health is solid, but attention to cash flow management is needed to sustain long-term growth and stability.

Income Statement

TF Bank AB shows strong revenue growth, particularly in the most recent period with a TTM (Trailing-Twelve-Months) revenue increase. The gross profit margin remains robust, indicating efficient cost management relative to revenue. However, the net profit margin has seen slight fluctuations, suggesting some volatility in bottom-line profitability. The EBIT margin is healthy, showcasing solid operational efficiency, although the EBITDA margin is less informative due to significant amortization and depreciation charges. Overall, the income statement reflects strong revenue growth and profitability, albeit with some volatility in net income.

Balance Sheet

The balance sheet of TF Bank AB is notably strong with no current debt, resulting in a debt-to-equity ratio of zero, which is highly favorable. The equity ratio has improved, reflecting a robust capital base relative to total assets. Return on Equity (ROE) is strong, demonstrating effective use of equity to generate profits. High levels of cash and equivalents further strengthen the financial position, enhancing liquidity and reducing financial risk. Overall, the balance sheet is characterized by low leverage and strong equity, which enhances financial stability.

Cash Flow

TF Bank AB's cash flow statement reveals some challenges, particularly with negative operating cash flow in the TTM (Trailing-Twelve-Months) period, which could indicate issues with cash generation from core operations. The free cash flow is also negative, pointing to potential cash constraints. However, the company has previously demonstrated the ability to generate positive free cash flow, suggesting some resilience. The operating cash flow to net income ratio is unfavorable, which could reflect timing issues or operational inefficiencies. Overall, the cash flow position indicates pressure on cash generation, but historical performance shows some capacity to recover.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.14B	3.21B	2.49B	1.60B	1.16B	987.78M
Gross Profit	2.51B	2.41B	1.98B	1.39B	1.04B	865.13M
EBITDA	989.68M	856.39M	570.07M	473.13M	381.20M	283.31M
Net Income	722.15M	632.35M	396.70M	342.46M	277.21M	202.72M
Balance Sheet
Total Assets	27.78B	25.07B	23.95B	18.38B	13.39B	10.20B
Cash, Cash Equivalents and Short-Term Investments	0.00	18.56M	18.92M	57.69M	1.28B	1.10B
Total Debt	346.53M	511.79M	505.76M	296.53M	251.62M	280.32M
Total Liabilities	24.65B	22.30B	21.79B	16.64B	11.96B	9.12B
Stockholders Equity	3.12B	2.77B	2.16B	1.74B	1.43B	1.08B
Cash Flow
Free Cash Flow	-1.50B	-1.63B	2.11B	1.01B	188.22M	336.02M
Operating Cash Flow	-1.45B	-1.55B	2.20B	1.06B	225.23M	361.58M
Investing Cash Flow	25.22M	4.48M	-107.80M	-56.53M	-37.03M	-25.56M
Financing Cash Flow	1.09B	-29.13M	177.63M	-36.35M	22.78M	1.55B

TF Bank AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 162.74
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:TFBANK, the sentiment is Negative. The current price of 162.74 is below the 20-day moving average (MA) of 172.09, below the 50-day MA of 177.18, and above the 200-day MA of 142.50, indicating a neutral trend. The MACD of -2.79 indicates Positive momentum. The RSI at 38.91 is Neutral, neither overbought nor oversold. The STOCH value of 34.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:TFBANK.

TF Bank AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TFBANK	72 Outperform	€11.64B	6.69	26.88%	―	15.59%	24.31%
NORION	71 Outperform	kr14.05B	9.80	―	―	0.78%	13.82%
HOFI	70 Neutral	kr8.59B	9.53	15.75%	1.99%	19.81%	5.77%
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%
RESURS	63 Neutral	kr7.07B	69.38	1.44%	―	-1.57%	―
INTRUM	42 Neutral	kr5.58B	-39.03	-0.68%	―	-6.65%	95.09%

TF Bank AB Corporate Events

TF Bank AB Reports Strong Growth and Strategic Transformation

TF Bank AB reported significant financial growth for January to September 2025, with a 24% increase in operating profit and a 25% rise in earnings per share compared to the previous year. The company is undergoing a strategic transformation, highlighted by a proposed name change to Avarda Bank AB, reflecting its expansion from a Nordic niche bank to a broader pan-European platform. This transition is supported by strong performance in its credit card business and new partnerships in the Ecommerce Solutions segment, which are expected to enhance transaction volumes.

TF Bank AB Proposes Name Change to Avarda Bank AB for Strategic Transformation

TF Bank AB has announced a proposal to change its corporate name to Avarda Bank AB, marking a strategic transformation from a Nordic niche bank to a pan-European credit and payment platform. This change aims to better reflect the company’s digital business model and its ambition for growth and value creation in the European market. The name change is subject to approval at an Extraordinary General Meeting and necessary regulatory permits. The company has shifted its focus from Consumer Lending to Credit Cards and Ecommerce Solutions, with Credit Cards now representing 48% of the loan portfolio. The transformation highlights TF Bank’s strong position in several European markets and its commitment to continuous innovation and expansion.

TF Bank AB Announces Extraordinary General Meeting for Name Change Proposal

TF Bank AB has announced an Extraordinary General Meeting to be held on November 17, 2025, where shareholders will discuss a proposed amendment to the company’s Articles of Association to change its corporate name to Avarda Bank AB. This name change is contingent upon approval from the Swedish Financial Supervisory Authority and registration with the Swedish Companies Registration Office, expected to be completed by Q2 2026. The proposed change reflects a strategic repositioning within the industry, potentially impacting stakeholders by aligning the company’s branding with its future business direction.

TF Bank to Release Interim Report and Host Conference Call

TF Bank AB announced it will release its interim report for January to September 2025 on October 14, 2025. The report will be followed by a conference call featuring CEO Joakim Jansson and CFO Mikael Meomuttel, providing an opportunity for stakeholders to engage with the company’s leadership. This announcement underscores TF Bank’s commitment to transparency and engagement with its investors and stakeholders, potentially impacting its market positioning and investor relations.

TF Bank AB to Rebrand as Avarda Bank AB

TF Bank AB has announced plans to change its corporate name to Avarda Bank AB, reflecting its transformation from a Nordic niche bank to a pan-European credit and payment platform. This name change aligns with the company’s strategic focus on innovation and flexibility, reinforcing its strong market position and supporting future expansion and long-term value creation.

TF Bank Reports Strong Growth in August 2025

TF Bank’s loan portfolio reached SEK 22,313 million by the end of August 2025, marking a 19% increase from the previous year in local currencies. The bank reported significant growth across its segments, with new lending in credit cards rising by 38% and e-commerce transaction volumes increasing by 64% compared to August 2024, indicating robust performance and expansion in its market operations.

TF Bank Ends Liquidity Enhancement Agreement

TF Bank AB has decided to terminate its agreement with DNB Carnegie Investment Bank AB for liquidity enhancement, effective after August 29, 2025. The decision comes as TF Bank assesses that the current trade and liquidity of its shares are satisfactory, making the liquidity enhancement agreement less beneficial.

TF Bank Reports Strong Growth in Loan Portfolio and E-commerce Solutions

TF Bank’s loan portfolio reached SEK 22,187 million by the end of July 2025, marking a 20% increase from July 2024 in local currencies. The bank saw significant growth in its Credit Cards and Ecommerce Solutions segments, with new lending and transaction volumes rising by 36% and 39% respectively compared to the previous year. This growth reflects the bank’s strong market positioning and its ability to leverage its digital platform to expand its lending and e-commerce activities across its operating regions.