Nordnet SAVE.ST
SwedenFinancial Services · Capital MarketsNasdaq Estocolmo · SEK
376.62 SEK (+11.5%)
16 analysts
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Nordnet AB is a Nordic digital bank specializing in savings and investment, offering trading platforms, funds, and financial advisory services to individuals and companies in Sweden, Norway, Denmark, and Finland.
Listed on Nasdaq Estocolmo · Symbol SAVE.ST · STO: SAVE · Currency SEK
Key points
from its scores- ✓High-quality business9.8
- ✓Strong growth8.7
- ✓Favourable backdrop8.1
- ✕Demanding valuation2.0
AI analysis
bottom line, main risk, context and newsQuality and growth justify the premium, but valuation limits short-term upside potential.
Nordnet shows exceptional profitability (ROE 42.76%, operating margin 64.66%) and solid growth (revenue +26.80%), although its valuation is demanding (P/E 26.02, adjusted P/B 2.44). The rising rate environment in Europe could support its intermediation business, but it is not a dominant factor.
The main risk is the demanding valuation (P/E 26.02) in a rising rate environment that could compress growth multiples, along with dependence on Nordic capital market activity.
Context and risks
Nordnet operates in Sweden, a country with solid governance and minority shareholder protection, but the assigned bank/insurer profile implies active regulatory oversight. The risk is moderate and already reflected in the country's governance reference.
Is Nordnet stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 276% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 26.0 | 13.7 | +90% |
| Price / book | 10.4 | 1.9 | +462% |
| Price / sales | 12.7 | 3.5 | +269% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.0 out of 10 (median for Financial Services: 5.2).
Average analyst target: 376.62 SEK, +11.5% 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 8.7 (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
- 26.0
- Forward P/E
- 31.7
- Price / book
- 10.4
- Price / sales
- 12.7
- PEG
- 0.94
- Market cap
- 83.9B SEK
- Enterprise value
- 163.6B SEK
Profitability
- ROE
- 42.8%
- ROA
- 1.0%
- ROIC (approx.)
- 4.7%
- Gross margin
- 88.3%
- Operating margin
- 64.7%
- Net margin
- 49.9%
Solvency
- Total debt
- 82.9B SEK
- Net debt
- 79.6B SEK
- Cash
- 3.3B SEK
- Debt / equity
- 1,029.23
- Current ratio
- 0.11
- Quick ratio
- 0.11
Growth
- Revenue growth
- +26.8%
- Earnings growth
- +33.8%
- EPS (TTM)
- 12.98 SEK
- EPS (forward)
- 10.67 SEK
Dividend
- Dividend yield
- 2.5%
- Payout
- 66.3%
Risk and market
- Beta
- 0.54
- Analyst consensus
- Buy (16)
- Target price
- 376.62 SEK
- 52-week range
- 257.60 – 384.00
Recent news
All SAVE.ST news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Nordnet
Is Nordnet stock cheap or expensive?
On P/E and Price / book, it trades 276% above the Financial Services median on average. Valuation score: 2.0 out of 10 (median for Financial Services: 5.2). Average analyst target: 376.62 SEK, +11.5% versus the price. This is not investment advice.
What score does Nordnet get on MeridIAn Screener?
It scores 6.5 out of 10, rank 572 of 2,130 (better than 72% of the companies analysed). Its strongest category is Quality / Moat (9.8) and its weakest, Valuation (2.0). Analysis of 08/10/2026.
What is Nordnet's P/E ratio?
Its P/E is 26.0: the share price equals 26.0 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 31.7.
How much is Nordnet worth on the stock market?
Its market capitalisation is 83.9B SEK.
Does Nordnet pay a dividend?
Yes: its dividend yield is 2.55% and it pays out 66% of its earnings.
How has Nordnet stock performed over the last year?
It has risen 22.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 257.60 and 384.00 SEK. Past performance does not guarantee future results.
What do analysts think of Nordnet?
16 analysts cover it; their average recommendation is “Buy” and their average target is 376.62 SEK (+11.5% versus the price). It is an estimate, not market data.