Want to see SE:SHB.A full AI Analyst Report?
Top Page
Svenska Handelsbanken AB
(SHB.A)
Select Model
Select Model
Rating:68Neutral
Price Target:
kr170.00
▲(17.12% Upside)
Action:Downgraded
Date:10/29/26
The score is driven primarily by moderate financial performance: solid profitability and ROE are offset by a TTM revenue decline, high leverage typical of banks, and volatile cash flow. Technicals are moderately supportive with the stock above key moving averages but mixed momentum signals. Valuation is a positive contributor due to a moderate P/E and very high dividend yield.
Positive Factors
Diversified banking model
A broad universal-banking offering gives Handelsbanken several recurring revenue streams across households and businesses. Its presence in multiple Nordic and European markets, combined with lending, payments and investment services, supports customer retention and reduces reliance on one product line.
Negative Factors
Declining revenue trend
The contraction in TTM revenue signals cooling top-line momentum after a stronger prior year. If sustained, weaker revenue would limit operating leverage and reduce the resources available for investment, while making future profit growth more dependent on cost control and margin preservation.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified banking model
A broad universal-banking offering gives Handelsbanken several recurring revenue streams across households and businesses. Its presence in multiple Nordic and European markets, combined with lending, payments and investment services, supports customer retention and reduces reliance on one product line.
Read all positive factors
Svenska Handelsbanken AB (SHB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr311.43B
Dividend Yield11.24%
Average Volume (3M)4.81M
Price to Earnings (P/E)13.3
Beta (1Y)0.77
Revenue Growth-13.80%
EPS Growth-5.44%
CountrySE
Employees11,669
SectorGeneral
Sector StrengthN/A
IndustryBanks - Diversified
Share Statistics
EPS (TTM)11.75
Shares Outstanding1,944,777,200
10 Day Avg. Volume6,213,058
30 Day Avg. Volume4,810,410
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)1.33
Price to Sales (P/S)1.85
P/FCF Ratio4.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr146.00Price Target Upside0.59% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)11.42
Revenue Forecast (FY)kr56.52B
Svenska Handelsbanken AB Business Overview & Revenue Model
Company Description
Svenska Handelsbanken AB (publ), established in Stockholm, Sweden in 1871, delivers a comprehensive array of banking products and services to both individual and corporate clients. While its core markets include Sweden, the United Kingdom, Norway,...
How the Company Makes Money
Svenska Handelsbanken makes money mainly by intermediating between depositors and borrowers and by charging fees for financial services. Its key earnings sources typically include: (1) Net interest income: The largest driver for most universal ban...
Svenska Handelsbanken AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 133.99B | 143.64B | 62.03B | 62.06B | 49.20B | 42.88B |
| Gross Profit | 56.78B | 56.80B | 62.03B | 62.13B | 49.20B | 42.88B |
| EBITDA | 31.33B | 32.69B | 37.28B | 38.02B | 31.14B | 25.53B |
| Net Income | 23.31B | 23.73B | 27.45B | 29.11B | 21.68B | 19.53B |
Balance Sheet | ||||||
| Total Assets | 3.74T | 3.39T | 3.54T | 3.54T | 3.45T | 3.35T |
| Cash, Cash Equivalents and Short-Term Investments | 517.11B | 465.07B | 542.54B | 482.45B | 480.47B | 292.84B |
| Total Debt | 1.64T | 1.75T | 1.84T | 1.85T | 1.67T | 1.44T |
| Total Liabilities | 3.55T | 3.19T | 3.33T | 3.33T | 3.26T | 3.17T |
| Stockholders Equity | 188.22B | 199.35B | 210.02B | 205.08B | 196.03B | 181.71B |
Cash Flow | ||||||
| Free Cash Flow | 17.47B | 54.20B | 46.02B | 21.34B | -39.63B | 47.69B |
| Operating Cash Flow | 18.15B | 54.73B | 46.96B | 23.13B | -38.13B | 49.42B |
| Investing Cash Flow | -29.09B | -27.75B | 15.75B | -1.52B | 48.21B | -752.00M |
| Financing Cash Flow | -101.85B | -102.85B | -33.41B | -41.80B | -1.05B | -26.80B |
Svenska Handelsbanken AB Technical Analysis
Positive
145.15
Price Trends
151.53
Positive
147.44
Positive
137.29
Positive
Market Momentum
0.53
Negative
58.78
Neutral
95.55
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SHB.A, the sentiment is Positive. The current price of 145.15 is below the 20-day moving average (MA) of 152.36, below the 50-day MA of 151.53, and above the 200-day MA of 137.29, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 58.78 is Neutral, neither overbought nor oversold. The STOCH value of 95.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:SHB.A.
Svenska Handelsbanken AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | kr46.15B | 12.14 | ― | 1.73% | 3.55% | ― | |
71 Outperform | kr56.35B | 19.29 | 39.67% | 3.58% | 13.47% | 10.94% | |
69 Neutral | kr81.49B | 24.02 | 42.32% | 2.62% | 10.92% | 20.49% | |
68 Neutral | kr311.43B | 13.26 | 12.53% | 11.24% | -13.80% | -5.44% | |
61 Neutral | kr437.81B | 14.18 | 14.60% | 5.24% | -5.28% | -6.33% | |
59 Neutral | kr409.26B | 13.22 | 13.67% | 4.07% | -7.65% | 1.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SHB.A
Svenska Handelsbanken AB
155.75
46.68
42.80%
SE:AZA
Avanza Bank Holding AB
356.30
-1.89
-0.53%
SE:SEB.A
Skandinaviska Enskilda Banken AB
209.00
37.71
22.01%
SE:SWED.A
Swedbank
390.40
126.13
47.73%
SE:SAVE
Nordnet AB
328.60
57.97
21.42%
SE:NOBA
Noba Bank Group AB
92.30
2.60
2.90%
Svenska Handelsbanken AB Corporate Events
Handelsbanken Delivers Stable Q3 Growth on Strong Volumes and Capital Strength
Oct 21, 2026
Handelsbanken reported a solid third quarter of 2026, with operating profit rising to SEK 7,353m, higher return on equity and earnings per share, and an improved cost-to-income ratio, while maintaining a zero credit loss ratio. Income grew across ...
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.