Svenska Handelsbanken AB (publ)

SHB-A.ST

Banks - Diversified · Financial Services

Exchange

Stockholm Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Growth

Weak

Valuation

Good

Dividends

Strong

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Winston Score History

The full picture

Svenska Handelsbanken is a large Swedish bank that helps everyday people and businesses manage their money. It offers standard banking services like savings accounts, loans, mortgages, and investment products, mainly to customers in Sweden and across the Nordic countries. Handelsbanken is one of the oldest and largest banks in Scandinavia, with a long history dating back to 1871.

The bank earns money primarily through interest — it charges more on loans than it pays on deposits, keeping the difference as profit. It also collects fees for services like asset management and insurance. Handelsbanken operates mostly in Sweden, Norway, Denmark, Finland, and the UK, with a branch network of several hundred locations. Its main competitive advantage is a decentralized model where local branch managers make most lending decisions, which has historically kept loan losses low. The key risk is a slowdown in the Nordic housing market, since mortgage lending makes up a large share of its loan book.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-7.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-4.7% YoY

YoY Growth Rate

Earnings declining

Insider Activity

32.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 3.0T cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Svenska Handelsbanken AB (publ)'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Bank Quality

Not applicable for this business.

Growth

Sales growth

Sales YoY

-19.4%

Shrinking sales (-19.4% YoY)

Profit growth

EPS YoY

-9.1%

Earnings shrinking (-9.1% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Capital Strength

Not applicable for this business.

Asset Quality

Not applicable for this business.

Valuation

Price vs profit

P/E Ratio (TTM)

12.4x

no trend

Attractive valuation — P/E 12.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.3

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

3.43%

no trend

Moderate income — 3.43% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+142.1%

no trend

Dividend growing fast (142.1% YoY)

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