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Svenska Handelsbanken AB (SVNLF) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Svenska Handelsbanken AB $14.83, price $14.83, upside +0.0%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Financial Services · US · Home Sweden · ISIN SE0007100599

SH Svenska Handelsbanken AB logo Broad data Sep 29, 2026

Svenska Handelsbanken AB

SVNLF · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $14.83 · Fairly valued (+0.0%)
!Quality 47/100
!Expensive Growth (revenue YoY +130.5 %/yr)
✓Highly profitable · 42.6% net margin (TTM)
!High debt · negative free cash flow
!Moderate moat 52/100

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$16.03 $3.78 Fair Value $14.83 Dec 2019 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.

How to read this chart

60‑month range $3.78 – $16.03 · fair‑value band $11.12 – $18.54 · the $14.83 price screens below the $14.83 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 29, 2026.

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Company profile

Svenska Handelsbanken AB (publ) provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally. The company offers personal and corporate banking, and financial institutions.

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Svenska Handelsbanken AB (publ) provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally. The company offers personal and corporate banking, and financial institutions. It provides green loans, pension, advisory, investment and other financing services. In addition, the company's financial services, includes asset management, transaction banking, corporate finance, financing, markets, trade finance, market information and research services to large corporations; trading and execution. Further, it provides cash management, and securities finance solutions; and various corporate banking services to small and medium-sized companies and large corporates, as well as digital and private banking services. Svenska Handelsbanken AB (publ) was incorporated in 1871 and is headquartered in Stockholm, Sweden.

Stock analysis

Svenska Handelsbanken AB (SVNLF) currently trades at $14.83, while our model-based Fair Value estimate is $14.83, so the stock looks roughly fairly valued today (gap 0.0%).

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Valuation

Bull case: the Dividend Discount group reads highest at a median of $24.40 per share, and 3 of the 6 models we run sit above the $14.83 price.

Bear case: the Asset-Based group reads lowest at $6.82, and 3 of the 6 models stay below the price. Evidence for this calculation is high.

Scenario range: $11.12 (bear) to $18.54 (bull), the price of $14.83 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 47/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Svenska Handelsbanken AB reported revenue of 144B SEK in FY2025 versus 44.2B SEK in FY2021, a compound +34.2%/yr. Reported net income was 23.7B SEK in FY2025, compounding +4.9%/yr from FY2021.

Key figures

Market cap $30.2B · P/E ratio 11.7 · P/S ratio 1.94 · EPS (TTM) $1.26 · Net margin 16.5% · Return on equity 13.5% · Return on assets (EBIT) 1.0% · Revenue (TTM) 59.1B SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 7% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at 0%, SVNLF screens cheaper than that median.

Fair Value models

Bear $11.12 Fair Value $14.83 Bull $18.54
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.9493 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. 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.
Highest evidence
Residual Income $9.45 $10.90 $13.85 76
Gordon GGM $13.92 $28.94 $45.91 66
DDM Multi-Stage $13.92 $24.40 $30.37 66
All 6 models by family
Dividend Discount
Gordon GGM $13.92 $28.94 $45.91 66
DDM Multi-Stage $13.92 $24.40 $30.37 66
Multiples
P/E Multiple $11.81 $15.74 $19.68 63
P/B Multiple $10.68 $14.24 $17.81 55
Asset-Based
NCAV (Graham) $5.09 $6.82 $10.17 54
Economic Profit
Residual Income $9.45 $10.90 $13.85 76

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Quality Score breakdown

Overall quality 47/100

Of which business quality 45 · Market factors (momentum, volatility) 69

Profitability 29
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

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.
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+23.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.1%
Dividend (yield on the price)0.0%
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.66.9% vs 29.6%, picking up
Profit margin 2019 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.49% → 21%
2025 sits 697% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Agricultural Bank of China Limited 601288 ¥6.97 ¥12.94 +86%
Bank of China Limited 601988 ¥6.62 ¥9.86 +49%
Royal Bank of Canada RY $200.95 $130.85 −35%
Mitsubishi UFJ Financial Group MUFG $23.37 $14.86 −36%
Wells Fargo & Company WFC $80.05 $66.44 −17%
Citigroup Inc C $130.80 $107.10 −18%

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Svenska Handelsbanken AB · Fair Value
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Cite: Fair Value Calculator (2026). "Svenska Handelsbanken AB Fair Value". https://www.fairvalue-calculator.com/stock/SVNLF

Frequently asked questions

Is Svenska Handelsbanken AB (SVNLF) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of $14.83 versus a price of $14.83, about +0% upside (fairly valued).
What is the fair value of SVNLF?
Our model-based fair value for Svenska Handelsbanken AB is $14.83 (as of Sep 29, 2026), built from audited fundamentals. The current price: $14.83.
What is the quality score of SVNLF?
Svenska Handelsbanken AB has a Quality Score of 47/100. 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 Svenska Handelsbanken AB (SVNLF)?
Our model-based price target is the fair value of $14.83 (as of Sep 29, 2026) from 6 valuation models. Cautious scenario $11.12, optimistic scenario $18.54. It is a calculation from audited fundamentals, not an analyst target.
What is the Svenska Handelsbanken AB stock forecast for 2026?
Our models put fair value at $14.83, about +0% upside versus a price of $14.83 (fairly valued). Cautious scenario $11.12, optimistic scenario $18.54. The calculation is refreshed regularly with new filings.
What is the revenue of Svenska Handelsbanken AB (SVNLF)?
Svenska Handelsbanken AB reported trailing-twelve-month revenue of about 59.1B SEK (latest available figure, as of Sep 29, 2026).
What is the intrinsic value of Svenska Handelsbanken AB (SVNLF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Svenska Handelsbanken AB it is $14.83 per share (as of Sep 29, 2026), against a price of $14.83. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Svenska Handelsbanken AB stock overvalued or undervalued in 2026?
As of Sep 29, 2026, SVNLF trades below its calculated fair value: price $14.83, fair value $14.83, a gap of about +0% (fairly valued). 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 SVNLF?
No. The price is what the market pays today ($14.83); the fair value is what the company's own numbers justify ($14.83). For Svenska Handelsbanken AB the two are $0.0000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Svenska Handelsbanken AB worth?
The market values Svenska Handelsbanken AB at about $30.2B (market capitalisation, as of Sep 29, 2026). Per share that is $14.83; our models calculate a fair value of $14.83 per share.
What do the bullish and bearish scenarios say about SVNLF?
Our models span a range for Svenska Handelsbanken AB: cautious scenario $11.12, base $14.83, optimistic $18.54 per share (as of Sep 29, 2026, price $14.83). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is SVNLF from its 52-week high?
Svenska Handelsbanken AB trades at $14.83, about 7% below its 52-week high of $16.03 and 38% above the low of $10.71 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $14.83 is for.
Which stocks are comparable to Svenska Handelsbanken AB?
From the same area (Financial Services) we also value JPMorgan Chase & Co, Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Bank of America Corporation, 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 Svenska Handelsbanken AB stock attractive at the current price?
The data as of Sep 29, 2026: price $14.83, calculated fair value $14.83 (+0%), Quality Score 47/100, 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 SVNLF calculated?
We run Svenska Handelsbanken AB 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 $14.83, 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. Svenska Handelsbanken AB 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 Svenska Handelsbanken AB (SVNLF)?
The closing price on Oct 2, 2026 was $14.83. Our model-based fair value is $14.83, about +0% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Svenska Handelsbanken AB right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 Svenska Handelsbanken AB (SVNLF) come from?
Earnings per share at Svenska Handelsbanken AB grew +10.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +18.3 %, EBIT margin −6.9 %, tax rate −0.2 %, residual (interest, one-offs) +0.1 %. 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 Svenska Handelsbanken AB

How large is the market capitalisation of Svenska Handelsbanken AB (SVNLF)?
The market capitalisation of Svenska Handelsbanken AB is $30.2B. 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/E ratio of Svenska Handelsbanken AB (SVNLF)?
The price-to-earnings ratio of Svenska Handelsbanken AB is 11.7 (as of Jun 24, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Svenska Handelsbanken AB (SVNLF)?
The price-to-sales ratio of Svenska Handelsbanken AB is 1.94 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Svenska Handelsbanken AB (SVNLF)?
Earnings per share at Svenska Handelsbanken AB are $1.26 (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Svenska Handelsbanken AB (SVNLF)?
The net margin of Svenska Handelsbanken AB is 16.5% (fiscal year 2025). 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 Svenska Handelsbanken AB (SVNLF)?
The return on equity (ROE) of Svenska Handelsbanken AB is 13.5% (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 Svenska Handelsbanken AB (SVNLF)?
On an EBIT basis the return on assets of Svenska Handelsbanken AB 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.
How fast is revenue growing at Svenska Handelsbanken AB (SVNLF)?
Revenue at Svenska Handelsbanken AB is growing −9.3% versus a year earlier (3y avg +21.5%). 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 Svenska Handelsbanken AB (SVNLF)?
Earnings per share at Svenska Handelsbanken AB are growing +0.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Svenska Handelsbanken AB (SVNLF) generate?
The free cash flow of Svenska Handelsbanken AB is −46.7B SEK (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 Svenska Handelsbanken AB (SVNLF) carry?
The net debt of Svenska Handelsbanken AB is 1.3T SEK (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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