Nordea Bank Abp (NDA-FI) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Nordea Bank Abp stock €13.04, price €15.48, upside -15.7%, quality 52 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 15, 2026.
How to read this chart
60‑month range €5.68 – €18.01 · fair‑value band €9.79 – €17.04 · the €15.48 price screens above the €13.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 15, 2026.
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Nordea Bank Abp offers banking products and services for individuals, families, and businesses in Sweden, Finland, Norway, Denmark, and internationally. It operates through Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management segments.
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The company provides various financial services to customers through mobile banking, over the phone, online meetings, and branch offices. It also offers payments, cash management, cards, working capital management, and cards and finance solutions.
In addition, the company provides financing, payment, investment banking, capital market products, and securities services; and investment, savings, and risk management solutions.
Further, it offers savings products and asset management, including investment funds, discretionary management, portfolio advice, and equity trading and pension accounts; and asset-based financing through leasing, hire purchase, factoring, and sales to finance partners, such as dealers, vendors and retailers, as well as life insurance and pension products and services.
The company was founded in 1820 and is headquartered in Helsinki, Finland.
Stock analysis
Nordea Bank Abp (NDA-FI) currently trades at €15.48, while our model-based Fair Value estimate is €13.04, 15.7% 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 €13.04 per share, and 1 of the 6 models we run sit above the €15.48 price.
Bear case: the Asset-Based group reads lowest at €5.16, and 5 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: €9.79 (bear) to €17.04 (bull), the price of €15.48 sits inside 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 52/100 (solid quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Nordea Bank Abp reported revenue of €21.8B in FY2025 versus €10.4B in FY2021, a compound +20.3%/yr. Reported net income was €4.8B in FY2025, compounding +6.0%/yr from FY2021.
Key figures
Market cap €52.2B Large · P/E ratio 11.3 · P/S ratio 5.04 · EPS (TTM) €1.37 · Dividend yield 8.4% · Net margin 40.6% · Return on equity 15.3% · Return on assets (EBIT) 1.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −16%, NDA-FI screens cheaper than that median.
Fair Value models
Bear€9.79Fair Value €13.04Bull€17.04
Price €15.48 · Upside -15.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.0562 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
+34.8%
Revenue growth 5 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.
+17.2%
Revenue growth 22 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.
+7.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+28.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+20.0%
Dividend (yield on the price)8.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.0% vs 4.4%, picking up
Profit margin 2020 to 2025 ⓘ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.29% → 29%
News mood ⓘNews mood, the average tone of recent news (81 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The regional bank shows decent return on equity as a strength but is limited by negative operating and free cash flows together with leverage above five times equity.
Main risk: High leverage above five times equity risks constraining the bank's capacity to absorb losses and meet regulatory capital buffers.
Nordea shifted its headquarters from Sweden to Finland in 2018 to operate under a different regulatory framework. This precedent shows how domicile choices affect capital rules and oversight for regional banks. Does that move ultimately improve resilience through stronger buffers or limit flexibility in serving Nordic clients?
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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 · 1050 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−15.7% · Above median
Profitability
Return on equity (12 months)15.3% · Top 25%
Return on assets0.7% · Below median
Net margin (12 months)40.6% · Top 25%
Operating margin (12 months)54.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)1.5% · Below median
Dividend yield (12 months)8.4% · Top 25%
Balance sheet
Debt / equity4.19× · Highest 25%
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Nordea Bank Abp Fair Value". https://www.fairvalue-calculator.com/stock/NDA-FI
Frequently asked questions
Is Nordea Bank Abp (NDA-FI) overvalued or undervalued?
As of Oct 15, 2026, our model estimates a fair value of €13.04 versus a price of €15.48, about −16% upside (overvalued).
What is the fair value of NDA-FI?
Our model-based fair value for Nordea Bank Abp is €13.04 (as of Oct 15, 2026), built from audited fundamentals. The current price: €15.48.
What is the quality score of NDA-FI?
Nordea Bank Abp has a Quality Score of 52/100. 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 Nordea Bank Abp (NDA-FI)?
Our model-based price target is the fair value of €13.04 (as of Oct 15, 2026) from 6 valuation models. Cautious scenario €9.79, optimistic scenario €17.04. It is a calculation from audited fundamentals, not an analyst target.
What is the Nordea Bank Abp stock forecast for 2026?
Our models put fair value at €13.04, about −16% upside versus a price of €15.48 (overvalued). Cautious scenario €9.79, optimistic scenario €17.04. The calculation is refreshed regularly with new filings.
What is the revenue of Nordea Bank Abp (NDA-FI)?
Nordea Bank Abp reported trailing-twelve-month revenue of about €11.6B (latest available figure, as of Oct 15, 2026).
Does Nordea Bank Abp pay a dividend?
Nordea Bank Abp currently shows a dividend yield of 8.40% relative to its recent price (as of Oct 15, 2026).
What is the intrinsic value of Nordea Bank Abp (NDA-FI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nordea Bank Abp it is €13.04 per share (as of Oct 15, 2026), against a price of €15.48. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Nordea Bank Abp stock overvalued or undervalued in 2026?
As of Oct 15, 2026, NDA-FI trades above its calculated fair value: price €15.48, fair value €13.04, a gap of about −16% (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 NDA-FI?
No. The price is what the market pays today (€15.48); the fair value is what the company's own numbers justify (€13.04). For Nordea Bank Abp the two are €2.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nordea Bank Abp worth?
The market values Nordea Bank Abp at about €52.2B (market capitalisation, as of Oct 15, 2026). Per share that is €15.48; our models calculate a fair value of €13.04 per share.
What do the bullish and bearish scenarios say about NDA-FI?
Our models span a range for Nordea Bank Abp: cautious scenario €9.79, base €13.04, optimistic €17.04 per share (as of Oct 15, 2026, price €15.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NDA-FI?
Nordea Bank Abp trades at a price-to-earnings ratio of 11.3 (as of Oct 15, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €13.04 is built from several models across several years. Other multiples: PEG 8.9, P/B 1.8, P/S 5.0, EV/EBITDA 21.6.
What is the PEG ratio of NDA-FI?
The PEG ratio of Nordea Bank Abp is 8.94 (P/E divided by earnings growth, as of Oct 15, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nordea Bank Abp (NDA-FI)?
Balance-sheet figures for Nordea Bank Abp (as of Oct 15, 2026): return on equity 15.3%, debt of 4.19 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is NDA-FI from its 52-week high?
Nordea Bank Abp trades at €15.48, about 14% below its 52-week high of €18.01 and 18% above the low of €13.10 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of €13.04 is for.
Which stocks are comparable to Nordea Bank Abp?
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 Nordea Bank Abp stock attractive at the current price?
The data as of Oct 15, 2026: price €15.48, calculated fair value €13.04 (−16%), Quality Score 52/100, 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 NDA-FI calculated?
We run Nordea Bank Abp 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 €13.04, 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 13.9 % above its aggregate fair value. Nordea Bank Abp 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 Nordea Bank Abp (NDA-FI)?
The closing price on Oct 19, 2026 was €15.48. Our model-based fair value is €13.04, about −16% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nordea Bank Abp right now?
Solid but not exceptional quality (52/100) 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.
Where does the earnings growth of Nordea Bank Abp (NDA-FI) come from?
Earnings per share at Nordea Bank Abp grew +5.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.1 %, EBIT margin −2.5 %, tax rate −0.3 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nordea Bank Abp
How large is the market capitalisation of Nordea Bank Abp (NDA-FI)?
The market capitalisation of Nordea Bank Abp is €52.2B. 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 Nordea Bank Abp (NDA-FI)?
The price-to-sales ratio of Nordea Bank Abp is 5.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nordea Bank Abp (NDA-FI)?
Earnings per share at Nordea Bank Abp are €1.37 (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nordea Bank Abp (NDA-FI)?
The dividend yield of Nordea Bank Abp is 8.4% (payout 94.9%). 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 Nordea Bank Abp (NDA-FI)?
The net margin of Nordea Bank Abp is 40.6% (last twelve months). 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 Nordea Bank Abp (NDA-FI)?
The return on equity (ROE) of Nordea Bank Abp is 15.3% (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 Nordea Bank Abp (NDA-FI)?
On an EBIT basis the return on assets of Nordea Bank Abp is 1.0% (avg 5y). 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 Nordea Bank Abp (NDA-FI)?
The operating margin of Nordea Bank Abp is 54.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nordea Bank Abp (NDA-FI)?
Revenue at Nordea Bank Abp is growing +1.5% versus a year earlier (3y avg +19.4%). 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 Nordea Bank Abp (NDA-FI)?
Earnings per share at Nordea Bank Abp are growing +2.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Nordea Bank Abp (NDA-FI) generate?
The free cash flow of Nordea Bank Abp is −€3.2B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nordea Bank Abp (NDA-FI) carry?
The net debt of Nordea Bank Abp is €160B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 15, 2026