Company Valuation: Swedbank AB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204,213 199,120 228,671 245,657 360,989 454,205 - -
Change - -2.49% 14.84% 7.43% 46.95% 25.82% - -
Enterprise Value (EV) 204,213 199,120 228,671 245,657 360,989 454,205 454,205 454,205
Change - -2.49% 14.84% 7.43% 46.95% 25.82% 0% 0%
P/E 9.81x 9.13x 6.72x 7.07x 11.1x 14.9x 13x 12.2x
PBR 1.26x 1.13x 1.15x 1.12x 1.6x 2.02x 1.96x 1.88x
PEG - 1.95x 0.1x 3.63x -1.82x -2.25x 0.9x 1.85x
Capitalization / Revenue 4.36x 3.74x 3.13x 3.32x 5.25x 6.32x 5.98x 5.71x
EV / Revenue 0x 0x 0x 0x 0x 6.32x 5.98x 5.71x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x 0x 0x 10.6x 9.26x 8.64x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 9.25 9.75 15.15 21.7 20.45 24.23 25.81 26.79
Rate of return 5.08% 5.5% 7.45% 9.94% 6.37% 5.99% 6.39% 6.63%
EPS 2 18.56 19.43 30.27 30.86 28.98 27.06 31 33.04
Distribution rate 49.8% 50.2% 50% 70.3% 70.6% 89.5% 83.3% 81.1%
Net sales 1 46,890 53,221 73,057 74,104 68,736 71,861 75,992 79,599
EBITDA - - - - - - - -
EBIT 1 26,043 31,806 48,957 48,728 44,203 42,904 49,059 52,560
Net income 1 20,871 21,877 34,128 34,869 32,759 30,544 34,849 37,343
Net Debt - - - - - - - -
Reference price 2 182.10 177.30 203.30 218.30 321.10 404.20 404.20 404.20
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.($)
13.12x - - 1.91% 884B
6.17x - - 5.03% 415B
11.69x - - 2.22% 376B
6.58x - - 4.81% 357B
6.14x - - 5.02% 328B
11.67x - - 4.46% 327B
6.7x - - 4.75% 303B
17.18x - - 2.45% 271B
13.93x - - 2.82% 253B
Average 10.35x 3.72% 390.29B
Weighted average by Cap. 10.51x 3.49%

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