Company Valuation: Swedbank AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204,213 199,120 228,671 245,657 360,989 457,239 - -
Change - -2.49% 14.84% 7.43% 46.95% 26.66% - -
Enterprise Value (EV) 204,213 199,120 228,671 245,657 360,989 457,239 457,239 457,239
Change - -2.49% 14.84% 7.43% 46.95% 26.66% 0% 0%
P/E 9.81x 9.13x 6.72x 7.07x 11.1x 15x 13.2x 12.4x
PBR 1.26x 1.13x 1.15x 1.12x 1.6x 2.04x 1.98x 1.9x
PEG - 1.95x 0.1x 3.63x -1.82x -2.29x 1x 2.01x
Capitalization / Revenue 4.36x 3.74x 3.13x 3.32x 5.25x 6.36x 6.04x 5.78x
EV / Revenue 0x 0x 0x 0x 0x 6.36x 6.04x 5.78x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.6x 9.4x 8.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 9.25 9.75 15.15 21.7 20.45 24.24 25.7 26.5
Rate of return 5.08% 5.5% 7.45% 9.94% 6.37% 5.96% 6.32% 6.51%
EPS 2 18.56 19.43 30.27 30.86 28.98 27.08 30.8 32.7
Distribution rate 49.8% 50.2% 50% 70.3% 70.6% 89.5% 83.5% 81.1%
Net sales 1 46,890 53,221 73,057 74,104 68,736 71,857 75,677 79,081
EBITDA - - - - - - - -
EBIT 1 26,043 31,806 48,957 48,728 44,203 43,227 48,642 51,952
Net income 1 20,871 21,877 34,128 34,869 32,759 30,569 34,597 36,867
Net Debt - - - - - - - -
Reference price 2 182.10 177.30 203.30 218.30 321.10 406.90 406.90 406.90
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 02/02/22 31/01/23 24/01/24 23/01/25 29/01/26 - - -
1SEK in Million2SEK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.38x - - 1.88% 900B
6.35x - - 4.88% 411B
12.07x - - 2.13% 392B
12.12x - - 4.3% 339B
6.24x - - 4.95% 331B
6.85x - - 4.64% 300B
17.38x - - 2.42% 276B
14.28x - - 2.76% 253B
11.23x - - 2.32% 249B
Average 11.10x 3.37% 383.42B
Weighted average by Cap. 11.25x 3.18%

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