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STOCK COMPARISON

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

Both stocks run through our valuation models. Here is how Skandinaviska Enskilda Banken AB (publ) (SEB-A) and DBS Group Holdings (D05) compare, as of Aug 31, 2026.

As of Aug 31, 2026, Fair Value Calculator sees Skandinaviska Enskilda Banken AB (publ) as the less overvalued of the two: Skandinaviska Enskilda Banken AB (publ) trades at SEK 224 versus a fair value of SEK 178 (-21%), while DBS Group Holdings trades at S$76.15 versus S$40.48 (-47%).
Skandinaviska Enskilda Banken AB (publ)
SEB-A.ST · SEK · Financials
-21%
upside to fair value
overvalued
PriceSEK 224
Fair ValueSEK 178
Quality65/100
DBS Group Holdings
D05.SG · SGD · Financials
-47%
upside to fair value
overvalued
PriceS$76.15
Fair ValueS$40.48
Quality65/100
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Head-to-head numbers

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

Skandinaviska Enskilda Banken AB (publ)DBS Group Holdings
Valuation
13.1×P/E (TTM)18.7×
5.29×P/S (TTM)7.20×
1.70×P/B2.33×
13.6×EV/EBITDA—
2.09×PEG3.44×
3.8%Dividend yield3.7%
SEK 8.50Dividend per shareS$2.85
Profitability
41%Net margin49%
53%Operating margin60%
14%Return on equity16%
1%Return on assets1%
Growth
-7%Revenue growth (YoY)3%
20.5%Avg. growth/yr (3Y)11.6%
19.7%Avg. growth/yr (5Y)9.4%
Balance & size
2.05×Debt / equity0.69×
$41BMarket cap$160B
mixedGrowth qualityhealthy

Skandinaviska Enskilda Banken AB (publ) leads: 7 to 5 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.

Skandinaviska Enskilda Banken AB (publ)of which business quality 59 · market factors 80 DBS Group Holdingsof which business quality 61 · market factors 93
ProfitabilityMargins and returns on capital today
33
38
Quality GrowthAre margins and returns improving?
51
54
CashflowEarnings quality: real cash, not paper profit
75
84
Fin. StrengthBalance sheet, leverage, solvency risk
27
56
InvestmentDisciplined investing over empire-building
91
78
Low VolatilityCalm price path (market factor)
96
99
MomentumPrice trend over the last 3–12 months (market factor)
69
87
52W MomentumDistance to the 52-week high (market factor)
84
99
Net IssuanceBuybacks instead of dilution
100
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 familySkandinaviska Enskilda Banken AB (publ)Price SEK 224DBS Group HoldingsPrice S$76.15
Dividend Discountn/a-28%below the priceS$54.87
Multiples-19%below the priceSEK 180-45%below the priceS$42.04
Asset-Based-66%below the priceSEK 76.60-79%below the priceS$16.26
Economic Profit-36%below the priceSEK 142-58%below the priceS$32.23
Minimum-66%below the priceSEK 76.60-79%below the priceS$16.26
Maximum-19%below the priceSEK 180-28%below the priceS$54.87
Median-36%below the priceSEK 142-51%below the priceS$37.13
Geometric mean-44%below the priceSEK 125-56%below the priceS$33.16

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%.

Skandinaviska Enskilda Banken 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 case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Skandinaviska Enskilda Banken AB (publ)
Bear SEK 133Fair Value SEK 178Bull SEK 222
SEK 224 = current price (white tick)
DBS Group Holdings
Bear S$30.36Fair Value S$40.48Bull S$50.60
S$76.15 = 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.

Skandinaviska Enskilda Banken AB (publ) · Financials

Quality score65 · Top 25%
Fair value upside-21% · below median

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-47% · bottom 25%

Bottom line

As of Aug 31, 2026, Fair Value Calculator sees Skandinaviska Enskilda Banken AB (publ) as the less overvalued of the two: Skandinaviska Enskilda Banken AB (publ) trades at SEK 224 versus a fair value of SEK 178 (-21%), while DBS Group Holdings trades at S$76.15 versus S$40.48 (-47%).

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

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