TF Bank AB (AVARDA) AI Stock Analysis

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TF Bank AB

(Nasdaq OMX AB:AVARDA)

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Rating:76Outperform

Price Target:SEK 240.00▲(2.78% Upside)

Action:upgraded

Date:10/15/26

The company's financial foundation is the primary strength, driven by a pristine balance sheet and consistent revenue growth, though margin pressure is a watch point. Technicals show a positive price trend but lack strong momentum confirmation. Valuation is fair, supported by a healthy dividend yield. Overall, the stock presents a balanced profile with a tilt toward financial stability.

Positive Factors

Revenue GrowthThe 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 NormalizationThe 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.

TF Bank AB (AVARDA) vs. iShares MSCI Sweden ETF (EWD)

Market Cap: SEK 15.10B
Dividend Yield: 2.61%
Average Volume (3M): 60.46K
Price to Earnings (P/E): 17.2
Beta (1Y): 0.54
Revenue Growth: 21.52%
EPS Growth: 15.81%
Country: Sweden
Employees: 443
Sector: Financial
Sector Strength: 68
Industry: Banks - Regional

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...

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 bank ge...

TF Bank AB Financial Statement Overview

Summary

Strong revenue growth and an exceptionally robust balance sheet with minimal leverage underpin financial health. However, net profit margin compression and historical cash flow volatility introduce some caution, resulting in a solid but not top-tier score.

Income Statement

78Positive

Balance Sheet

95Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.26B	3.71B	3.21B	2.49B	1.60B	1.16B
Gross Profit	2.65B	2.90B	2.41B	1.98B	1.39B	1.04B
EBITDA	941.58M	924.02M	856.39M	570.07M	473.13M	381.20M
Net Income	667.05M	667.05M	632.35M	396.70M	342.46M	277.21M
Balance Sheet
Total Assets	29.12B	29.12B	25.07B	23.95B	18.38B	13.39B
Cash, Cash Equivalents and Short-Term Investments	17.58M	17.58M	18.56M	18.92M	57.69M	1.28B
Total Debt	714.13M	714.13M	511.79M	505.76M	296.53M	251.62M
Total Liabilities	26.08B	26.08B	22.30B	21.79B	16.64B	11.96B
Stockholders Equity	3.04B	3.04B	2.77B	2.16B	1.74B	1.43B
Cash Flow
Free Cash Flow	-378.37M	761.03M	-1.63B	2.11B	1.01B	188.22M
Operating Cash Flow	-345.49M	768.31M	-1.55B	2.20B	1.06B	225.23M
Investing Cash Flow	-42.33M	-3.46B	4.48M	-107.80M	-56.53M	-37.03M
Financing Cash Flow	1.05B	3.35B	-29.13M	177.63M	-36.35M	22.78M

TF Bank AB Technical Analysis

Technical Analysis SentimentPositive

Last Price233.50

Price Trends

50DMA211.27Positive

100DMA202.03Positive

200DMA182.72Positive

Market Momentum

MACD6.91Negative

RSI72.00Negative

STOCH90.97Negative

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 233.50 is above the 20-day moving average (MA) of 219.85, above the 50-day MA of 211.27, and above the 200-day MA of 182.72, indicating a bullish trend. The MACD of 6.91 indicates Negative momentum. The RSI at 72.00 is Negative, neither overbought nor oversold. The STOCH value of 90.97 is Negative, 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

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

SE:AVARDA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SE:AVARDA	76Outperform	SEK 15.10B	17.21	22.19%	2.61%	21.52%	15.81%
SE:AZA	71Outperform	SEK 62.73B	21.47	39.67%	3.21%	13.47%	10.94%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
SE:SHB.B	63Neutral	SEK 330.32B	14.05	12.53%	3.09%	-13.80%	-5.44%
SE:NORION	62Neutral	SEK 12.01B	10.68	―	―	-1.69%	-6.86%
SE:QLIRO	47Neutral	SEK 800.06M	-32.38	-2.37%	―	16.84%	83.08%

* Financial Sector Average

Performance Comparison

SE:AVARDA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
SE:AVARDA	TF Bank AB	233.50	67.02	40.26%
SE:AZA	Avanza Bank Holding AB	396.60	57.98	17.12%
SE:MORROW	Komplett Bank ASA	17.82	3.67	25.95%
SE:SHB.B	Svenska Handelsbanken AB Class B	259.20	62.49	31.77%
SE:QLIRO	Qliro AB	23.40	5.33	29.50%
SE:NORION	Collector AB	69.50	1.00	1.46%

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.

Date of analysis: Oct 15, 2026

TF Bank AB AI Stock Analysis