Svenska Handelsbanken AB (publ)

SHB-B.ST

Banks - Diversified · Financial Services

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Growth

Weak

Valuation

Good

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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 savings accounts, loans, mortgages, and investment services, mainly to customers in Sweden and across Northern Europe. Handelsbanken is one of Sweden's oldest and most established banks, known for running its branches with unusual independence — each local branch makes its own lending decisions rather than following orders from a central office.

The bank earns money primarily through net interest income, meaning it charges more on loans than it pays on deposits, and also collects fees for financial advice and transactions. It operates mainly in Sweden, the UK, Denmark, Norway, Finland, and the Netherlands, with over 800 branches globally. Its decentralized model is considered a key competitive strength, as it tends to produce lower loan losses than peers. The main risk the bank faces is a prolonged low or falling interest rate environment, which would compress the margins it earns between lending and deposit rates.

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

31.8%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

Every number that matters to educated investors.

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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

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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