Company Valuation: Swedbank AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204,213 199,120 228,671 245,657 360,989 439,822 - -
Change - -2.49% 14.84% 7.43% 46.95% 21.84% - -
Enterprise Value (EV) 204,213 199,120 228,671 245,657 360,989 439,822 439,822 439,822
Change - -2.49% 14.84% 7.43% 46.95% 21.84% 0% 0%
P/E 9.81x 9.13x 6.72x 7.07x 11.1x 14.5x 13x 12.3x
PBR 1.26x 1.13x 1.15x 1.12x 1.6x 1.96x 1.91x 1.84x
PEG - 1.95x 0.1x 3.63x -1.82x -2.19x 1.1x 2.23x
Capitalization / Revenue 4.36x 3.74x 3.13x 3.32x 5.25x 6.14x 5.86x 5.63x
EV / Revenue 0x 0x 0x 0x 0x 6.14x 5.86x 5.63x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.8x 9.78x 9.24x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 9.25 9.75 15.15 21.7 20.45 24.6 25.49 26.04
Rate of return 5.08% 5.5% 7.45% 9.94% 6.37% 6.27% 6.5% 6.64%
EPS 2 18.56 19.43 30.27 30.86 28.98 27.06 30.2 31.87
Distribution rate 49.8% 50.2% 50% 70.3% 70.6% 90.9% 84.4% 81.7%
Net sales 1 46,890 53,221 73,057 74,104 68,736 71,607 75,017 78,133
EBITDA - - - - - - - -
EBIT 1 26,043 31,806 48,957 48,728 44,203 40,819 44,972 47,580
Net income 1 20,871 21,877 34,128 34,869 32,759 30,428 33,865 35,735
Net Debt - - - - - - - -
Reference price 2 182.10 177.30 203.30 218.30 321.10 392.00 392.00 392.00
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.($)
14.49x - - 6.27% 45.11B
13.87x - - 1.8% 931B
12.74x - - 2.01% 416B
6.34x - - 4.88% 415B
12.67x - - 4.12% 355B
6.38x - - 4.83% 338B
6.8x - - 4.66% 301B
17.57x - - 2.4% 284B
12.14x - - 2.15% 268B
14.87x - - 2.65% 271B
Average 11.79x 3.58% 362.33B
Weighted average by Cap. 11.72x 3.12%

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

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