Avanza Bank Holding AZA.ST
SwedenFinancial Services · Banks - RegionalNasdaq Estocolmo · SEK
418.72 SEK (+11.2%)
17 analysts
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Avanza Bank Holding AB is a Swedish digital bank offering retail banking, savings and investment services through its online platform, with a low-cost, high-efficiency operating model.
Listed on Nasdaq Estocolmo · Symbol AZA.ST · STO: AZA · Currency SEK
Key points
from its scores- ✓High-quality business9.8
- ✓Strong growth8.5
- ✓Favourable backdrop7.8
- ✕Demanding valuation2.2
- ✕Poor share-price trend3.9
AI analysis
bottom line, main risk, context and newsQuality and growth are outstanding, but the demanding valuation and weak momentum limit upside potential in the short term.
Avanza Bank shows exceptional profitability (ROE 39.11%, net margin 53.03%) and solid growth (revenue +25.4%, earnings +30%), although its valuation is demanding (P/E 21.05, adjusted P/B 2.27) and momentum is weak (10.94). Business quality justifies the premium, but the price already discounts much of the good outlook.
The main risk is the demanding valuation (P/E 21.05, adjusted P/B 2.27) that leaves little room for error if growth decelerates or interest rates change risk appetite.
Context and risks
Avanza Bank operates in Sweden, a consolidated democracy with strong minority protection, but the Nordic banking sector is under active regulatory review regarding capital and conduct. Governance risk is moderate, not severe, and there are no specific regulatory events affecting this particular company.
Is Avanza Bank Holding stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 217% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 21.1 | 13.7 | +54% |
| Price / book | 8.9 | 1.9 | +380% |
| Price / sales | 11.1 | 3.5 | +221% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.2 out of 10 (median for Financial Services: 5.2).
Average analyst target: 418.72 SEK, +11.2% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 9.8 (sector 8.8), Growth 8.5 (sector 6.9).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 21.1
- Forward P/E
- 28.9
- Price / book
- 8.9
- Price / sales
- 11.1
- PEG
- 0.96
- Market cap
- 59.5B SEK
- Enterprise value
- 56.6B SEK
Profitability
- ROE
- 39.1%
- ROA
- 0.7%
- ROIC (approx.)
- 48.5%
- Gross margin
- 90.8%
- Operating margin
- 63.5%
- Net margin
- 53.0%
Solvency
- Total debt
- 347.0M SEK
- Net debt
- −2.8B SEK
- Cash
- 3.1B SEK
- Debt / equity
- 4.35
- Current ratio
- 0.42
- Quick ratio
- 0.42
Growth
- Revenue growth
- +25.4%
- Earnings growth
- +30.0%
- EPS (TTM)
- 17.88 SEK
- EPS (forward)
- 13.02 SEK
Dividend
- Dividend yield
- 3.4%
- Payout
- 71.3%
Risk and market
- Beta
- 0.63
- Analyst consensus
- Buy (17)
- Target price
- 418.72 SEK
- 52-week range
- 318.40 – 409.20
Recent news
All AZA.ST news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Avanza Bank Holding
Is Avanza Bank Holding stock cheap or expensive?
On P/E and Price / book, it trades 217% above the Financial Services median on average. Valuation score: 2.2 out of 10 (median for Financial Services: 5.2). Average analyst target: 418.72 SEK, +11.2% versus the price. This is not investment advice.
What score does Avanza Bank Holding get on MeridIAn Screener?
It scores 6.5 out of 10, rank 502 of 2,130 (better than 72% of the companies analysed). Its strongest category is Quality / Moat (9.8) and its weakest, Valuation (2.2). Analysis of 08/10/2026.
What is Avanza Bank Holding's P/E ratio?
Its P/E is 21.1: the share price equals 21.1 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 28.9.
How much is Avanza Bank Holding worth on the stock market?
Its market capitalisation is 59.5B SEK.
Does Avanza Bank Holding pay a dividend?
Yes: its dividend yield is 3.39% and it pays out 71% of its earnings.
How has Avanza Bank Holding stock performed over the last year?
It has risen 6.3% over the last year, excluding dividends. Over the last 52 weeks it has traded between 318.40 and 409.20 SEK. Past performance does not guarantee future results.
What do analysts think of Avanza Bank Holding?
17 analysts cover it; their average recommendation is “Buy” and their average target is 418.72 SEK (+11.2% versus the price). It is an estimate, not market data.