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Svenska Handelsbanken AB
(SHB.A)
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Rating:71Outperform
Price Target:
kr170.00
▲(17.12% Upside)
Action:Reiterated
Date:10/18/26
The score is driven primarily by solid profitability and improved recent cash generation, offset by balance-sheet risk from high and rising leverage. Technicals add support with an upward trend and neutral momentum, while valuation is helped by a moderate P/E and very high dividend yield.
Positive Factors
Stable Profitability
Healthy and broadly stable margins indicate that Handelsbanken continues to convert banking revenue into earnings effectively. This supports internal capital generation and provides resilience over the next several quarters, although the bank’s longer-term margin history has shown some volatility.
Negative Factors
Softening Revenue Trend
Weakening revenue momentum could limit operating leverage and make it harder to sustain current profitability if the trend persists. Slower top-line performance may also constrain the bank’s ability to expand lending, grow fee income, or offset future cost and funding pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable Profitability
Healthy and broadly stable margins indicate that Handelsbanken continues to convert banking revenue into earnings effectively. This supports internal capital generation and provides resilience over the next several quarters, although the bank’s longer-term margin history has shown some volatility.
Read all positive factors
Svenska Handelsbanken AB (SHB.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr307.37B
Dividend Yield11.39%
Average Volume (3M)4.10M
Price to Earnings (P/E)12.6
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)11.87
Shares Outstanding1,944,777,200
10 Day Avg. Volume4,003,386
30 Day Avg. Volume4,103,291
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)11.41
Revenue Forecast (FY)kr56.45B
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
58
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 134.07B | 143.64B | 62.03B | 62.06B | 49.20B | 42.88B |
| Gross Profit | 56.60B | 56.80B | 62.03B | 62.13B | 49.20B | 42.88B |
| EBITDA | 32.26B | 32.69B | 37.28B | 38.02B | 31.14B | 25.53B |
| Net Income | 23.50B | 23.73B | 27.45B | 29.11B | 21.68B | 19.53B |
Balance Sheet | ||||||
| Total Assets | 3.87T | 3.39T | 3.54T | 3.54T | 3.45T | 3.35T |
| Cash, Cash Equivalents and Short-Term Investments | 602.05B | 465.07B | 542.54B | 482.45B | 480.47B | 292.84B |
| Total Debt | 1.79T | 1.75T | 1.84T | 1.85T | 1.67T | 1.44T |
| Total Liabilities | 3.69T | 3.19T | 3.33T | 3.33T | 3.26T | 3.17T |
| Stockholders Equity | 184.39B | 199.35B | 210.02B | 205.08B | 196.03B | 181.71B |
Cash Flow | ||||||
| Free Cash Flow | 74.11B | 54.20B | 46.02B | 21.34B | -39.63B | 47.69B |
| Operating Cash Flow | 74.62B | 54.73B | 46.96B | 23.13B | -38.13B | 49.42B |
| Investing Cash Flow | -29.00B | -27.75B | 15.75B | -1.52B | 48.21B | -752.00M |
| Financing Cash Flow | -101.80B | -102.85B | -33.41B | -41.80B | -1.05B | -26.80B |
Svenska Handelsbanken AB Technical Analysis
Neutral
145.15
Price Trends
150.90
Negative
146.47
Positive
136.47
Positive
Market Momentum
-0.23
Positive
38.90
Neutral
40.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SHB.A, the sentiment is Neutral. The current price of 145.15 is below the 20-day moving average (MA) of 152.69, below the 50-day MA of 150.90, and above the 200-day MA of 136.47, indicating a neutral trend. The MACD of -0.23 indicates Positive momentum. The RSI at 38.90 is Neutral, neither overbought nor oversold. The STOCH value of 40.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | kr45.05B | 12.18 | ― | 1.78% | 3.55% | ― | |
71 Outperform | kr307.37B | 12.56 | 12.53% | 11.39% | -13.80% | -5.44% | |
71 Outperform | kr56.95B | 19.50 | 39.67% | 3.54% | 13.47% | 10.94% | |
71 Outperform | kr82.68B | 25.67 | 41.62% | 2.58% | 5.91% | 15.50% | |
66 Neutral | kr447.45B | 14.21 | 14.70% | 5.13% | -12.92% | -7.93% | |
57 Neutral | kr425.85B | 13.73 | 13.93% | 3.92% | -14.03% | -2.92% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SHB.A
Svenska Handelsbanken AB
147.70
40.99
38.41%
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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.