SEB-A Stock Analysis: Skandinaviska Enskilda | ST
Banks - Regional | ST, Sweden | Market Cap: 426.020m SEK | 12M Return: 35.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 483M
EPS Trend: -92.9%
Qual. Beats: 1
Rev. Trend: -50.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Skandinaviska Enskilda Banken AB (publ) is a major Nordic universal bank founded in 1856 and headquartered in Stockholm, Sweden, operating across four segments: Corporate & Investment Banking, Business & Retail Banking, Wealth & Asset Management, and Baltic. The company offers a comprehensive suite of financial services, including loans, leasing, payments, life insurance and pensions, capital markets products, fund management, structured financing (commercial real estate, infrastructure, shipping), investment banking advisory, fixed income/currency/commodities execution, trade and supply chain finance, custody services, cash management, venture capital, and private wealth management. SEB serves large corporates, financial institutions, SMEs, and private individuals, with operations spanning Sweden, the other Nordics, the Baltics, and select international financial hubs across Europe, Asia, and North America.
The Nordic banking sector is characterized by a concentrated oligopoly of a few universal banks serving both retail and corporate clients, and SEB is among the big four Swedish banks that dominate domestic lending and capital markets activity. As a large-cap financial classified under regional banks, SEBs universal banking model allows it to cross-sell traditional lending, investment banking, and asset management services to corporate and institutional clients, with the Baltic segment providing material exposure to the faster-growing Baltic economies. The sector is heavily regulated by the Swedish Financial Supervisory Authority (Finansinspektionen) and the European Central Bank, given the cross-border nature of Nordic banking groups.
- NIM expansion as Riksbank maintains higher policy rate
- Corporate & Investment Banking fees rise on M&A recovery
- Baltic loan demand weakens amid regional economic slowdown
| Net Income: 31.1b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA 3.71 > 1.0 |
| NWC/Revenue: -1.18k% < 20% (prev -941.1%; Δ -240.4% < -1%) |
| CFO/TA 0.01 > 3% & CFO 22.8b > Net Income 31.1b |
| Net Debt (430b) to EBITDA (41.2b): 10.43 < 3 |
| Current Ratio: 0.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.98b) vs 12m ago -2.03% < -2% |
| Gross Margin: 50.37% > 18% (prev 46.96%; Δ 3.41% > 0.5%) |
| Asset Turnover: 3.49% > 50% (prev 4.16%; Δ -0.67% > 0%) |
| Interest Coverage Ratio: 0.56 > 6 (EBIT TTM 38.8b / Interest Expense TTM 69.6b) |
| A: -0.40 (Total Current Assets 524b - Total Current Liabilities 2267b) / Total Assets 4355b |
| B: 0.04 (Retained Earnings 172b / Total Assets 4355b) |
| C: 0.01 (EBIT TTM 38.8b / Avg Total Assets 4233b) |
| D: 0.05 (Book Value of Equity 226b / Total Liabilities 4129b) |
| Altman-Z'' = -2.38 = D |
As of July 28, 2026, the stock is trading at SEK 219.90 with a total of 1,742,695 shares traded. Over the past week, the price has changed by +3.58%, over one month by +15.22%, over three months by +22.99% and over the past year by +35.59%.
Current recommended Stop Loss: 214.70 (which is 2.4% or 1.4 ATR below the current price).
Skandinaviska Enskilda has no consensus analysts rating.
P/E Trailing = 13.9324
P/E Forward = 13.245
P/S = 5.7155
P/B = 1.8602
P/EG = 2.2436
Revenue TTM = 148b SEK
EBIT TTM = 38.8b SEK
EBITDA TTM = 41.2b SEK
Long Term Debt = 471b SEK (from longTermDebt, last fiscal year)
Short Term Debt = 11.0b SEK (from shortTermDebt, two quarters ago)
Debt = 954b SEK (from shortLongTermDebtTotal, last quarter)
Net Debt = 430b SEK (calculated: Debt 954b - CCE 524b)
Enterprise Value = 856b SEK (426b + Debt 954b - CCE 524b)
Interest Coverage Ratio = 0.56 (Ebit TTM 38.8b / Interest Expense TTM 69.6b)
EV/FCF = 26.87x (Enterprise Value 856b / FCF TTM 31.9b)
FCF Yield = 3.72% (FCF TTM 31.9b / Enterprise Value 856b)
FCF Margin = 21.59% (FCF TTM 31.9b / Revenue TTM 148b)
Net Margin = 21.11% (Net Income TTM 31.1b / Revenue TTM 148b)
Gross Margin = 50.37% ((Revenue TTM 148b - Cost of Revenue TTM 73.2b) / Revenue TTM)
Gross Margin QoQ = 52.86% (prev 52.49%)
Tobins Q-Ratio = 0.20 (Enterprise Value 856b / Total Assets 4355b)
Interest Expense / Debt = 7.29% (Interest Expense 69.6b / Debt 954b)
Taxrate = 19.62% (7.60b / 38.8b)
NOPAT = 31.1b (EBIT 38.8b * (1 - 19.62%))
Current Ratio = 0.23 (Total Current Assets 524b / Total Current Liabilities 2267b)
Debt / Equity = 4.23 (Debt 954b / totalStockholderEquity, last quarter 226b)
Debt / EBITDA = 10.43 (Net Debt 430b / EBITDA 41.2b)
Debt / FCF = 13.49 (Net Debt 430b / FCF TTM 31.9b)
Total Stockholder Equity = 224b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.74% (Net Income 31.1b / Total Assets 4355b)
RoE = 13.93% (Net Income TTM 31.1b / Total Stockholder Equity 224b)
RoCE = 5.58% (EBIT 38.8b / Capital Employed (Equity 224b + L.T.Debt 471b))
RoIC = 1.50% (NOPAT 31.1b / Invested Capital 2080b)
WACC = 6.45% (E(426b)/V(1380b) * Re(7.76%) + D(954b)/V(1380b) * Rd(7.29%) * (1-Tc(0.20)))
Discount Rate = 7.76% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.18 | Cagr: -2.27%
[DCF] Terminal Value 75.44% ; FCFF base≈31.9b ; Y1≈32.0b ; Y5≈33.9b
[DCF] Fair Price = 50.48 (EV 527b - Net Debt 430b = Equity 97.2b / Shares 1.92b; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -92.88 | EPS CAGR: -6.68% | SUE: 1.96 | # QB: 1
Revenue Correlation: -50.56 | Revenue CAGR: -5.03% | SUE: 0.58 | # QB: 0
EPS current Quarter (2026-09-30): EPS=4.23 | Chg30d=+4.44% | Revisions=+40% | Analysts=2
EPS current Year (2026-12-31): EPS=16.48 | Chg30d=+3.48% | Revisions=+12% | GrowthEPS=+5.4% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=17.94 | Chg30d=+0.77% | Revisions=+0% | GrowthEPS=+8.9% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: +19% (up=8, down=5)