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STOCK COMPARISON

DBS Group Holdings vs Skandinaviska Enskilda Banken AB (publ): Fair Value & Quality

Both stocks run through our valuation models. Here is how DBS Group Holdings (D05) and Skandinaviska Enskilda Banken AB (publ) (SEB-A) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Skandinaviska Enskilda Banken AB (publ) as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Skandinaviska Enskilda Banken AB (publ) trades at SEK 227 versus SEK 178 (-22%).
DBS Group Holdings
D05.SG · SGD · Financials
-49%
upside to fair value
overvalued
PriceS$78.65
Fair ValueS$40.48
Quality65/100
Skandinaviska Enskilda Banken AB (publ)
SEB-A.ST · SEK · Financials
-22%
upside to fair value
overvalued
PriceSEK 227
Fair ValueSEK 178
Quality65/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

DBS Group HoldingsSkandinaviska Enskilda Banken AB (publ)
Valuation
18.7×P/E (TTM)13.1×
7.23×P/S (TTM)5.29×
2.34×P/B1.70×
—EV/EBITDA13.6×
3.44×PEG2.09×
−48.5%Fair value upside−21.6%
3.6%Dividend yield3.8%
S$2.85Dividend per shareSEK 8.50
Profitability
60%Operating margin53%
0.99×EBIT margin trend (5Y)0.80×
16%Return on equity14%
1%Return on assets1%
Growth
3%Revenue growth (YoY)-7%
11.6%Avg. growth/yr (3Y)20.5%
9.4%Avg. growth/yr (5Y)19.7%
+12.6%Value creation/yr+14.5%
Balance & size
0.6×Interest coverage (EBIT/interest)0.5×
0.69×Debt / equity2.05×
$161BMarket cap$41B
healthyGrowth qualitymixed

Skandinaviska Enskilda Banken AB (publ) leads: 5 to 9 metric wins.

Dash = 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.

DBS Group Holdingsof which business quality 61 · market factors 96 Skandinaviska Enskilda Banken AB (publ)of which business quality 59 · market factors 83
ProfitabilityMargins and returns on capital today
38
33
Quality GrowthAre margins and returns improving?
54
51
CashflowEarnings quality: real cash, not paper profit
84
75
Fin. StrengthBalance sheet, leverage, solvency risk
56
27
InvestmentDisciplined investing over empire-building
78
91
Low VolatilityCalm price path (market factor)
99
96
MomentumPrice trend over the last 3–12 months (market factor)
91
74
52W MomentumDistance to the 52-week high (market factor)
100
86
Net IssuanceBuybacks instead of dilution
65
100

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 familyDBS Group HoldingsPrice S$78.65Skandinaviska Enskilda Banken AB (publ)Price SEK 227
Dividend Discount-30%below the priceS$54.87n/a
Multiples-47%below the priceS$42.04-20%below the priceSEK 180
Asset-Based-79%below the priceS$16.26-66%below the priceSEK 76.60
Economic Profit-59%below the priceS$32.23-37%below the priceSEK 142
Minimum-79%below the priceS$16.26-66%below the priceSEK 76.60
Maximum-30%below the priceS$54.87-20%below the priceSEK 180
Median-53%below the priceS$37.13-37%below the priceSEK 142
Geometric mean-58%below the priceS$33.16-45%below the priceSEK 125

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%.

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

Skandinaviska Enskilda Banken AB (publ): 4 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

DBS Group Holdings
Bear S$30.36Fair Value S$40.48Bull S$50.60
S$78.65 = current price (white tick)
Skandinaviska Enskilda Banken AB (publ)
Bear SEK 133Fair Value SEK 178Bull SEK 222
SEK 227 = current price (white tick)

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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.

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-49% · bottom 25%

Skandinaviska Enskilda Banken AB (publ) · Financials

Quality score65 · Top 25%
Fair value upside-22% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Skandinaviska Enskilda Banken AB (publ) as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Skandinaviska Enskilda Banken AB (publ) trades at SEK 227 versus SEK 178 (-22%).

See the full analysis →
DBS Group Holdings · Skandinaviska Enskilda Banken AB (publ)

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