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Swedbank
(SWED.A)
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Rating:61Neutral
Price Target:
kr401.00
â–˛(8.67% Upside)
Action:Reiterated
Date:10/23/26
The score is anchored by solid profitability and ROE but held back by high leverage and especially volatile/negative cash flow patterns. Technicals are neutral-to-weak in the near term with the stock below shorter moving averages and muted momentum, while valuation is a supportive offset due to a reasonable P/E and strong dividend yield.
Positive Factors
Strong Profitability and ROE
Swedbank’s consistently strong profitability and solid ROE indicate that its retail and corporate banking franchise converts its capital base into earnings effectively. This supports internal capital formation, resilience through ordinary credit cycles, and continued investment in digital and customer services.
Negative Factors
Elevated Leverage
Swedbank’s elevated debt-to-equity and recent increase in total debt heighten sensitivity to funding conditions and credit-cycle pressure. Although leverage is typical for banking, the current level can constrain financial flexibility and make profitability more vulnerable if asset quality or funding costs deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability and ROE
Swedbank’s consistently strong profitability and solid ROE indicate that its retail and corporate banking franchise converts its capital base into earnings effectively. This supports internal capital formation, resilience through ordinary credit cycles, and continued investment in digital and customer services.
Read all positive factors
Swedbank (SWED.A) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr438.82B
Dividend Yield5.27%
Average Volume (3M)2.09M
Price to Earnings (P/E)14.2
Beta (1Y)0.93
Revenue Growth-5.28%
EPS Growth-6.33%
CountrySE
Employees17,293
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)27.54
Shares Outstanding1,132,005,700
10 Day Avg. Volume2,417,325
30 Day Avg. Volume2,085,705
Financial Highlights & Ratios
PEG Ratio-1.85
Price to Book (P/B)1.60
Price to Sales (P/S)3.11
P/FCF Ratio-7.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr421.75Price Target Upside14.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)27.86
Revenue Forecast (FY)kr71.95B
Swedbank Business Overview & Revenue Model
Company Description
Swedbank AB (publ) functions as a comprehensive financial services provider, extending a diverse range of banking products and services to both individual and corporate clients. The company organizes its operations across three primary divisions: ...
How the Company Makes Money
Swedbank primarily makes money through a traditional banking model centered on interest income and fee-based services. (1) Net interest income: The largest driver is typically the spread between interest earned on loans (notably Swedish mortgages ...
Swedbank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 117.68B | 115.94B | 144.06B | 131.14B | 64.54B | 49.66B |
| Gross Profit | 74.89B | 69.49B | 73.33B | 72.25B | 51.29B | 46.70B |
| EBITDA | 40.65B | 43.48B | 47.15B | 45.63B | 29.58B | 27.50B |
| Net Income | 30.95B | 32.76B | 34.87B | 34.13B | 21.36B | 20.87B |
Balance Sheet | ||||||
| Total Assets | 3.38T | 3.06T | 3.01T | 2.86T | 2.85T | 2.75T |
| Cash, Cash Equivalents and Short-Term Investments | 282.06B | 263.63B | 325.60B | 252.99B | 365.99B | 360.15B |
| Total Debt | 1.13T | 909.93B | 923.10B | 873.63B | 881.36B | 808.09B |
| Total Liabilities | 3.17T | 2.84T | 2.79T | 2.66T | 2.68T | 2.59T |
| Stockholders Equity | 215.97B | 225.80B | 218.87B | 198.76B | 176.06B | 161.67B |
Cash Flow | ||||||
| Free Cash Flow | -2.37B | -46.68B | 80.41B | -146.00B | -18.98B | 49.16B |
| Operating Cash Flow | -1.87B | -46.19B | 80.82B | -145.15B | -18.62B | 49.41B |
| Investing Cash Flow | -3.34B | -3.82B | -147.00M | -418.00M | 691.00M | 628.00M |
| Financing Cash Flow | -36.67B | -1.43B | -12.64B | 32.17B | 10.02B | 14.15B |
Swedbank Technical Analysis
Neutral
369.00
Price Trends
392.77
Negative
379.51
Positive
349.87
Positive
Market Momentum
-3.25
Positive
43.54
Neutral
27.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SWED.A, the sentiment is Neutral. The current price of 369 is below the 20-day moving average (MA) of 398.42, below the 50-day MA of 392.77, and above the 200-day MA of 349.87, indicating a neutral trend. The MACD of -3.25 indicates Positive momentum. The RSI at 43.54 is Neutral, neither overbought nor oversold. The STOCH value of 27.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SWED.A.
Swedbank Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr13.96B | 17.21 | 22.19% | 2.82% | 21.52% | 15.81% | |
71 Outperform | kr56.15B | 19.22 | 39.67% | 3.59% | 13.47% | 10.94% | |
69 Neutral | kr80.99B | 23.87 | 42.32% | 2.63% | 10.92% | 20.49% | |
68 Neutral | kr311.34B | 13.25 | 12.53% | 11.34% | -13.80% | -5.44% | |
61 Neutral | kr438.82B | 14.21 | 14.60% | 5.27% | -5.28% | -6.33% | |
59 Neutral | kr408.06B | 13.18 | 13.67% | 4.08% | -7.65% | 1.59% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SE:SWED.A
Swedbank
391.30
128.03
48.63%
SE:AZA
Avanza Bank Holding AB
355.00
-4.54
-1.26%
SE:SEB.A
Skandinaviska Enskilda Banken AB
208.40
38.66
22.77%
SE:SHB.A
Svenska Handelsbanken AB
155.70
47.33
43.68%
SE:SAVE
Nordnet AB
326.60
56.95
21.12%
SE:AVARDA
TF Bank AB
216.00
40.08
22.78%
Swedbank Corporate Events
Swedbank Delivers Strong Q3 2026 Results and Bolsters Baltic Market Position
Oct 22, 2026
Swedbank reported a strong third-quarter performance in 2026, with profit for the period rising to SEK 8.25bn, up 15% from the previous quarter, driven mainly by higher net interest and commission income and lower expenses. The cost-to-income rati...
Swedbank sets October date for Q3 report and investor briefing
Oct 8, 2026
Swedbank will publish its interim report for the third quarter on 22 October at 7:00 a.m. CEST, followed by a conference call at 9:30 a.m. with its top executives that can be accessed via webcast or telephone, and related materials will be made av...
Swedbank reshapes top management as key executives depart and new leadership confirmed
Sep 30, 2026
Swedbank has confirmed that acting Head of Group Business Support Henrik Liljeblad will permanently assume the role and remain on the Group Executive Committee, signalling continuity in the bank’s operational development. The appointment is ...
Swedbank Sets 2027 AGM Date and Appoints Nomination Committee
Sep 29, 2026
Swedbank has set the date for its 2027 Annual General Meeting in Stockholm on 7 April and appointed a Nomination Committee composed of representatives from major shareholders and the bank’s chair. The committee will play a central role in sh...
Swedbank’s Entercard Sells SEK 4 Billion in Non-Performing Consumer Loans
Sep 18, 2026
Swedbank’s consumer finance subsidiary Entercard has agreed to sell a portfolio of non-performing consumer loans worth about SEK 4 billion to Brocc Finance and Intrum. The deal is expected to close in the fourth quarter, subject to standard ...
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.