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Avanza Bank Holding (AZA) Fair Value & Analysis

Financial Services · SE · Market cap 55.6B SEK

AB Avanza Bank Holding AZA · ST
Pricekr 384.20
Fair Valuekr 216.71
Upside-43.6%
Quality95/100
Evidence: High Range kr 162.53 – kr 270.89

Fair value as of: Jun 26, 2026

From 23 valuation models · updated 4 days ago

Share price +12.0% over the past month.

Price vs Fair Value (12 months)

kr 385.80 kr 299.80 Fair Value kr 216.71 Jun 2025 Jun 2026

12‑month range kr 299.80 – kr 385.80 · fair‑value band kr 162.53 – kr 270.89 · the kr 384.20 price screens above the kr 216.71 fair value. As of Jun 26, 2026.

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Analysis

Avanza Bank Holding (AZA) currently trades at kr 384.20, while our model-based Fair Value estimate is kr 216.71 — implying the stock looks roughly 43.6% overvalued today. We read business quality at 95/100 (high quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Avanza Bank Holding generated revenue of 5.1B SEK at a net margin of 52.7%. Revenue grew 9.7% year over year. It earns a return on equity of 33.1%. The balance sheet holds a net cash position of 12.3B SEK. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 5.1B SEK
Revenue growth (YoY) +9.7%
Net margin 52.7%
Return on equity 33.1%
Free cash flow 31.7B SEK FY2025
P/E ratio 21.0
More key figures
Operating margin 63.5%
EPS (TTM) kr 16.76
Dividend yield 3.7%
EPS growth (YoY) +4.9%
Net cash 12.3B SEK FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Avanza Bank Holding reported revenue of kr 5.7B in FY2025 versus kr 3.4B in FY2021, a compound +13.9%/yr. Reported net income was kr 2.6B in FY2025, compounding +6.5%/yr from FY2021.

Revenue +13.9%/yr
FY21 kr 3.4B
FY22 kr 3.1B
FY23 kr 4.4B
FY24 kr 5.1B
FY25 kr 5.7B
Net income +6.5%/yr
FY21 kr 2.0B
FY22 kr 1.7B
FY23 kr 2.0B
FY24 kr 2.3B
FY25 kr 2.6B

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Frequently asked questions

Is Avanza Bank Holding (AZA) undervalued?
As of Jun 26, 2026, our model estimates a fair value of kr 216.71 versus a price of kr 384.20 — about −44% (overvalued). Model-based estimate, not financial advice.
What is the fair value of AZA?
Our 21-model fair value for Avanza Bank Holding is kr 216.71 (as of Jun 26, 2026), built from audited fundamentals. The current price is kr 384.20.
What is the quality score of AZA?
Avanza Bank Holding has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Avanza Bank Holding (AZA)?
Avanza Bank Holding reported trailing-twelve-month revenue of about 5.1B SEK (latest available figure, as of Jun 26, 2026).
What is the net profit margin of AZA?
The net profit margin of Avanza Bank Holding is about 52.7%, meaning it keeps roughly 52.7% of revenue as net income. Based on the latest reported figures.
Does Avanza Bank Holding pay a dividend?
Avanza Bank Holding currently shows a dividend yield of about 3.65% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.