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STOCK COMPARISON

Avanza Bank Holding AB (publ) vs DBS Group Holdings: Fair Value & Quality

Both stocks run through our valuation models. Here is how Avanza Bank Holding AB (publ) (AZA) and DBS Group Holdings (D05) compare, as of Sep 29, 2026.

As of Sep 29, 2026, Fair Value Calculator sees DBS Group Holdings as the less overvalued of the two: Avanza Bank Holding AB (publ) trades at SEK 379 versus a fair value of SEK 143 (−62.3%), while DBS Group Holdings trades at S$78.11 versus S$40.39 (−48.3%).
Avanza Bank Holding AB (publ)
AZA.ST · SEK · Financials
−62.3%
upside to fair value
overvalued
PriceSEK 379
Fair ValueSEK 143
Quality57/100
DBS Group Holdings
D05.SG · SGD · Financials
−48.3%
upside to fair value
overvalued
PriceS$78.11
Fair ValueS$40.39
Quality65/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Avanza Bank Holding AB (publ)DBS Group Holdings
Valuation
21.2×P/E (TTM)20.0×
18.5×Forward P/E (FY2027)17.6×
11.17×P/S (TTM)9.78×
7.58×P/B3.22×
14.8×EV/EBITDAn/a
6.32×PEG2.63×
−62.3%Fair value upside−48.3%
3.4%Dividend yield3.6%
SEK 12.75Dividend per shareS$2.85
Profitability
63.5%Operating margin60.7%
0.83×EBIT margin trend (5Y)0.99×
39.1%Return on equity16.2%
0.7%Return on assets1.2%
Growth
25.4%Revenue growth (YoY)6.8%
22.5%Avg. growth/yr (3Y)11.6%
18.7%Avg. growth/yr (5Y)9.4%
+17.6%Value creation/yr+12.6%
Balance & size
4.2×Interest coverage (EBIT/interest)0.6×
n/aDebt / equity0.69×
$6BMarket cap$173B
healthyGrowth qualityhealthy
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

DBS Group Holdings leads: 5 to 8 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Avanza Bank Holding AB (publ)of which business quality 54 · market factors 65 DBS Group Holdingsof which business quality 61 · market factors 95
ProfitabilityMargins and returns on capital today
45
38
Quality GrowthAre margins and returns improving?
52
54
CashflowEarnings quality: real cash, not paper profit
100
84
Fin. StrengthBalance sheet, leverage, solvency risk
10
56
InvestmentDisciplined investing over empire-building
38
78
Low VolatilityCalm price path (market factor)
83
100
MomentumPrice trend over the last 3–12 months (market factor)
55
89
52W MomentumDistance to the 52-week high (market factor)
62
99
Net IssuanceShare count: buybacks or dilution?
78
65

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAvanza Bank Holding AB (publ)Price SEK 379DBS Group HoldingsPrice S$78.11
Dividend Discountn/a−35.4%below the priceS$50.43
Multiples−62.2%below the priceSEK 144−46.3%below the priceS$41.94
Asset-Based−91.1%below the priceSEK 33.66−79.2%below the priceS$16.22
Economic Profit−59.7%below the priceSEK 153−60.1%below the priceS$31.19
Minimum−91.1%below the priceSEK 33.66−79.2%below the priceS$16.22
Maximum−59.7%below the priceSEK 153−35.4%below the priceS$50.43
Median−62.2%below the priceSEK 144−53.2%below the priceS$36.57
Geometric mean−76.2%below the priceSEK 90.40−58.8%below the priceS$32.16

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Avanza Bank Holding AB (publ): 4 of 4 models see the stock below the current price.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Avanza Bank Holding AB (publ)
Price SEK 379
Fair Value SEK 143
Bear SEK 107Bull SEK 179
DBS Group Holdings
Price S$78.11
Fair Value S$40.39
Bear S$29.31Bull S$50.48

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Avanza Bank Holding AB (publ) · Financials

Quality score57 · above median
Fair value upside−62.3% · bottom 25%

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside−48.3% · bottom 25%

Bottom line

As of Sep 29, 2026, Fair Value Calculator sees DBS Group Holdings as the less overvalued of the two: Avanza Bank Holding AB (publ) trades at SEK 379 versus a fair value of SEK 143 (−62.3%), while DBS Group Holdings trades at S$78.11 versus S$40.39 (−48.3%).

DBS Group Holdings has the higher quality score (65/100).

Open DBS Group Holdings live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.