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TF Bank AB
(AVARDA)
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Rating:72Outperform
Price Target:
kr236.00
▲(15.12% Upside)
Action:Upgraded
Date:10/15/26
The score is driven primarily by solid financial performance—strong revenue growth, a strengthening and conservatively levered balance sheet, and historically strong ROE—offset by meaningful cash-flow volatility. Technicals are supportive with price above major moving averages, but mixed momentum indicators (negative MACD) cap the rating. Valuation is reasonable (P/E 17.2) with a modest dividend yield (~2.87%), providing some support but not a major uplift.
Positive Factors
Revenue Growth
The 2025 revenue rebound shows renewed demand across TF Bank’s lending, deposit, and payment activities after weaker prior years. If maintained, stronger top-line growth can broaden the earnings base, support operating investment, and reinforce the company’s position across European consumer finance markets.
Negative Factors
Margin Normalization
The sustained decline in net margin indicates that higher revenue is not translating into proportionally higher profitability. This normalization could constrain earnings growth, reduce the benefit of future sales expansion, and leave results more sensitive to funding costs, credit performance, or operating expenses.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The 2025 revenue rebound shows renewed demand across TF Bank’s lending, deposit, and payment activities after weaker prior years. If maintained, stronger top-line growth can broaden the earnings base, support operating investment, and reinforce the company’s position across European consumer finance markets.
Read all positive factors
TF Bank AB (AVARDA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr13.58B
Dividend Yield2.9%
Average Volume (3M)66.95K
Price to Earnings (P/E)17.2
Beta (1Y)0.54
Revenue Growth21.52%
EPS Growth15.81%
CountrySE
Employees443
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)9.92
Shares Outstanding64,650,000
10 Day Avg. Volume100,801
30 Day Avg. Volume66,951
Financial Highlights & Ratios
PEG Ratio2.57
Price to Book (P/B)3.48
Price to Sales (P/S)2.85
P/FCF Ratio13.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)12.96
Revenue Forecast (FY)kr3.71B
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; unsecu...
How the Company Makes Money
TF Bank AB makes money primarily through (1) interest income on lending and (2) fees/commission income from its banking and payment activities, with funding supported by customer deposits.
1) Interest income (consumer finance and credit): The ban...
TF Bank AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
83
Very Positive
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.71B | 3.21B | 2.49B | 1.60B | 1.16B |
| Gross Profit | 2.90B | 2.41B | 1.98B | 1.39B | 1.04B |
| EBITDA | 924.02M | 856.39M | 570.07M | 473.13M | 381.20M |
| Net Income | 667.05M | 632.35M | 396.70M | 342.46M | 277.21M |
Balance Sheet | |||||
| Total Assets | 29.12B | 25.07B | 23.95B | 18.38B | 13.39B |
| Cash, Cash Equivalents and Short-Term Investments | 17.58M | 18.56M | 18.92M | 57.69M | 1.28B |
| Total Debt | 714.13M | 511.79M | 505.76M | 296.53M | 251.62M |
| Total Liabilities | 26.08B | 22.30B | 21.79B | 16.64B | 11.96B |
| Stockholders Equity | 3.04B | 2.77B | 2.16B | 1.74B | 1.43B |
Cash Flow | |||||
| Free Cash Flow | 761.03M | -1.63B | 2.11B | 1.01B | 188.22M |
| Operating Cash Flow | 768.31M | -1.55B | 2.20B | 1.06B | 225.23M |
| Investing Cash Flow | -3.46B | 4.48M | -107.80M | -56.53M | -37.03M |
| Financing Cash Flow | 3.35B | -29.13M | 177.63M | -36.35M | 22.78M |
TF Bank AB Technical Analysis
Positive
205.00
Price Trends
205.94
Positive
195.70
Positive
178.89
Positive
Market Momentum
2.24
Negative
53.76
Neutral
48.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:AVARDA, the sentiment is Positive. The current price of 205 is above the 20-day moving average (MA) of 204.99, below the 50-day MA of 205.94, and above the 200-day MA of 178.89, indicating a bullish trend. The MACD of 2.24 indicates Negative momentum. The RSI at 53.76 is Neutral, neither overbought nor oversold. The STOCH value of 48.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:AVARDA.
TF Bank AB Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr13.58B | 17.21 | 22.19% | 2.90% | 21.52% | 15.81% | |
71 Outperform | kr55.89B | 19.13 | 39.67% | 3.61% | 13.47% | 10.94% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | kr304.33B | 12.95 | 12.53% | 3.45% | -13.80% | -5.44% | |
61 Neutral | kr12.01B | 9.72 | ― | ― | -1.69% | -6.86% | |
46 Neutral | kr427.38M | -17.30 | -2.37% | ― | 16.84% | 83.08% |
* Financial Sector Average
SE:AVARDA
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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.