Company Valuation: Swedbank AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204,213 199,120 228,671 245,657 360,989 422,629 - -
Change - -2.49% 14.84% 7.43% 46.95% 17.08% - -
Enterprise Value (EV) 204,213 199,120 228,671 245,657 360,989 422,629 422,629 422,629
Change - -2.49% 14.84% 7.43% 46.95% 17.08% 0% 0%
P/E 9.81x 9.13x 6.72x 7.07x 11.1x 13.9x 12.5x 11.8x
PBR 1.26x 1.13x 1.15x 1.12x 1.6x 1.88x 1.84x 1.77x
PEG - 1.95x 0.1x 3.63x -1.82x -2.13x 1.1x 2.16x
Capitalization / Revenue 4.36x 3.74x 3.13x 3.32x 5.25x 5.91x 5.64x 5.42x
EV / Revenue 0x 0x 0x 0x 0x 5.91x 5.64x 5.42x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.1x 9.29x 8.79x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 9.25 9.75 15.15 21.7 20.45 24.59 25.39 25.95
Rate of return 5.08% 5.5% 7.45% 9.94% 6.37% 6.54% 6.75% 6.9%
EPS 2 18.56 19.43 30.27 30.86 28.98 27.09 30.13 31.78
Distribution rate 49.8% 50.2% 50% 70.3% 70.6% 90.8% 84.3% 81.7%
Net sales 1 46,890 53,221 73,057 74,104 68,736 71,571 74,917 77,991
EBITDA - - - - - - - -
EBIT 1 26,043 31,806 48,957 48,728 44,203 41,639 45,480 48,068
Net income 1 20,871 21,877 34,128 34,869 32,759 30,574 33,920 35,633
Net Debt - - - - - - - -
Reference price 2 182.10 177.30 203.30 218.30 321.10 376.10 376.10 376.10
Nbr of stocks (in thousands) 1,121,434 1,123,071 1,124,796 1,125,318 1,124,226 1,123,715 - -
Announcement Date 2/2/22 1/31/23 1/24/24 1/23/25 1/29/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.01x - - 1.78% 942B
13.07x - - 1.95% 428B
6.2x - - 5% 396B
12.5x - - 4.18% 350B
5.94x - - 5.13% 313B
17.85x - - 2.41% 284B
6.27x - - 5.01% 277B
11.63x - - 2.24% 257B
14.53x - - 2.73% 255B
Average 11.33x 3.38% 389.13B
Weighted average by Cap. 11.70x 3.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield