Avanza Bank Holding (0NUK) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Avanza Bank Holding SEK 140, price SEK 387, upside -63.9%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 136.14 – kr 407.25 · fair‑value band kr 113.85 – kr 380.82 · the kr 387.35 price screens above the kr 139.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Avanza Bank Holding AB (publ), together with its subsidiaries, provides various savings, pension, and mortgages products in Sweden. It offers share and fund, investment savings, endowment insurance, savings, endowment child insurance, external deposit, and pension insurance accounts, as well as occupational pensions and individual pension plans.
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Avanza Bank Holding AB (publ), together with its subsidiaries, provides various savings, pension, and mortgages products in Sweden. It offers share and fund, investment savings, endowment insurance, savings, endowment child insurance, external deposit, and pension insurance accounts, as well as occupational pensions and individual pension plans. The company also trades in equities, funds, and other securities; and provides external and green mortgages, private banking mortgages, margin loans, and stock lending products. In addition, it offers decision support services and others; and publishes topical news and independent advice on the financial website, Placera, as well as on the weekly financial magazine, Börsveckan. The company primarily serves individual and professional investors, and corporate customers, such as entrepreneurs, asset managers, and occupational pension customers. Avanza Bank Holding AB (publ) was incorporated in 1986 and is headquartered in Stockholm, Sweden.
Stock analysis
Avanza Bank Holding (0NUK) currently trades at kr 387.35, while our model-based Fair Value estimate is kr 139.72, 63.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of kr 184.41 per share, and 0 of the 6 models we run sit above the kr 387.35 price.
Bear case: the Asset-Based group reads lowest at kr 26.83, and 6 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 113.85 (bear) to kr 380.82 (bull), the price of kr 387.35 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Avanza Bank Holding reported revenue of 3.8B SEK in FY2021 versus 1.2B SEK in FY2017, a compound +32.6%/yr. Reported net income was 2.0B SEK in FY2021, compounding +52.5%/yr from FY2017.
Key figures
Market cap 45.5B SEK (≈ $4.5B) · P/S ratio 8.45 · Dividend yield 3.1% · Net margin 53.2% · Return on equity 39.1% · Return on assets (EBIT) 0.6% · Operating margin 63.5% · Revenue (TTM) 5.4B SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −36% fair-value upside, at −64%, 0NUK screens richer than that median.
Fair Value models
Bear kr 113.85Fair Value kr 139.72Bull kr 380.82
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+40.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+41.6%
’17
’18
’19
’20
’21
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
35.5% (2017) → 63.4% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1052 stocks
Beats the industry median on 8/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−63.7% · Bottom 25%
Profitability
Return on equity (TTM)39.1% · Top 25%
Return on assets0.7% · Below median
Net margin (TTM)53.0% · Top 25%
Operating margin (TTM)63.5% · Top 25%
Growth and dividend
Revenue growth25.4% · Top 25%
Dividend yield (TTM)3.1% · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Avanza Bank Holding Fair Value". https://www.fairvalue-calculator.com/stock/0NUK
Frequently asked questions
Is Avanza Bank Holding (0NUK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 139.72 versus a price of kr 387.35, about −64% upside (overvalued).
What is the fair value of 0NUK?
Our model-based fair value for Avanza Bank Holding is kr 139.72 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 387.35.
What is the quality score of 0NUK?
Avanza Bank Holding has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Avanza Bank Holding (0NUK)?
Our model-based price target is the fair value of kr 139.72 (as of Sep 24, 2026) from 6 valuation models. Cautious scenario kr 113.85, optimistic scenario kr 380.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Avanza Bank Holding stock forecast for 2026?
Our models put fair value at kr 139.72, about −64% upside versus a price of kr 387.35 (overvalued). Cautious scenario kr 113.85, optimistic scenario kr 380.82. The calculation is refreshed regularly with new filings.
What is the revenue of Avanza Bank Holding (0NUK)?
Avanza Bank Holding reported trailing-twelve-month revenue of about 5.4B SEK (latest available figure, as of Sep 24, 2026).
Does Avanza Bank Holding pay a dividend?
Avanza Bank Holding currently shows a dividend yield of about 3.15% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Avanza Bank Holding (0NUK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Avanza Bank Holding it is kr 139.72 per share (as of Sep 24, 2026), against a price of kr 387.35. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Avanza Bank Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0NUK trades above its calculated fair value: price kr 387.35, fair value kr 139.72, a gap of about −64% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0NUK?
No. The price is what the market pays today (kr 387.35); the fair value is what the company's own numbers justify (kr 139.72). For Avanza Bank Holding the two are kr 247.63 per share apart. That gap is exactly why we show both numbers side by side.
How much is Avanza Bank Holding worth?
The market values Avanza Bank Holding at about 45.5B SEK (market capitalisation, as of Sep 24, 2026). Per share that is kr 387.35; our models calculate a fair value of kr 139.72 per share.
What do the bullish and bearish scenarios say about 0NUK?
Our models span a range for Avanza Bank Holding: cautious scenario kr 113.85, base kr 139.72, optimistic kr 380.82 per share (as of Sep 24, 2026, price kr 387.35). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Avanza Bank Holding (0NUK)?
Balance-sheet figures for Avanza Bank Holding (as of Sep 24, 2026): return on equity 39.1%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 0NUK from its 52-week high?
Avanza Bank Holding trades at kr 387.35, about 5% below its 52-week high of kr 407.25 and 20% above the low of kr 321.94 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 139.72 is for.
Which stocks are comparable to Avanza Bank Holding?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Avanza Bank Holding stock attractive at the current price?
The data as of Sep 24, 2026: price kr 387.35, calculated fair value kr 139.72 (−64%), Quality Score 61/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0NUK calculated?
We run Avanza Bank Holding through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 139.72, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Avanza Bank Holding itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Avanza Bank Holding (0NUK)?
The closing price on Oct 2, 2026 was kr 387.35. Our model-based fair value is kr 139.72, about −64% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Avanza Bank Holding right now?
The model range is unusually wide (kr 113.85 to kr 380.82). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Avanza Bank Holding
How large is the market capitalisation of Avanza Bank Holding (0NUK)?
The market capitalisation of Avanza Bank Holding is 45.5B SEK (≈ $4.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Avanza Bank Holding (0NUK)?
The price-to-sales ratio of Avanza Bank Holding is 8.45 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Avanza Bank Holding (0NUK)?
The dividend yield of Avanza Bank Holding is 3.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Avanza Bank Holding (0NUK)?
The net margin of Avanza Bank Holding is 53.2% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Avanza Bank Holding (0NUK)?
The return on equity (ROE) of Avanza Bank Holding is 39.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Avanza Bank Holding (0NUK)?
On an EBIT basis the return on assets of Avanza Bank Holding is 0.6% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Avanza Bank Holding (0NUK)?
The operating margin of Avanza Bank Holding is 63.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Avanza Bank Holding (0NUK)?
Revenue at Avanza Bank Holding is growing +25.4% versus a year earlier (3y avg +41.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Avanza Bank Holding (0NUK)?
Earnings per share at Avanza Bank Holding are growing +30.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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