Stock AZA AVANZA BANK HOLDING AB
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Financials Avanza Bank Holding AB

Equities

AZA

SE0012454072

Investment Banking & Brokerage Services

Market Closed - Nasdaq Stockholm
Other stock markets
 11:29:50 2024-04-26 am EDT 		5-day change 1st Jan Change
238.8 SEK +4.74% Intraday chart for Avanza Bank Holding AB +1.62% +2.27%
Apr. 19 Transcript : Avanza Bank Holding AB, Q1 2024 Earnings Call, Apr 19, 2024
Apr. 19 Avanza Bank Holding AB Reports Earnings Results for the First Quarter Ended March 31, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 15,040 36,104 51,681 35,020 36,715 37,548 - -
Enterprise Value (EV) 1 15,040 36,104 51,681 84,413 89,813 89,898 95,678 37,548
P/E ratio 33.3 x 26.9 x 25.6 x 21 x 18.5 x 18 x 18.3 x 17 x
Yield 2.35% 0.36% 2.77% 3.35% 4.93% 4.25% 4.14% 4.43%
Capitalization / Revenue 12.6 x 15.4 x 15.7 x 11.8 x 10.7 x 10.3 x 10.1 x 9.39 x
EV / Revenue 12.6 x 15.4 x 15.7 x 28.4 x 26.1 x 24.6 x 25.6 x 9.39 x
EV / EBITDA - - 20.6 x 41.7 x - 36.9 x 38.5 x 14.2 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 7.73 x 11.4 x 11 x 7.07 x 6.3 x 6.14 x 5.68 x 5.26 x
Nbr of stocks (in thousands) 153,786 154,954 155,572 156,619 157,237 157,237 - -
Reference price 2 97.80 233.0 332.2 223.6 233.5 238.8 238.8 238.8
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/19/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,193 2,349 3,301 2,973 3,437 3,651 3,733 4,000
EBITDA 1 - - 2,507 2,022 - 2,434 2,483 2,644
EBIT 1 528 1,586 2,437 1,941 2,289 2,387 2,389 2,579
Operating Margin 44.26% 67.52% 73.83% 65.29% 66.6% 65.38% 63.99% 64.48%
Earnings before Tax (EBT) 1 520 1,576 2,437 1,940 2,292 2,429 2,412 2,631
Net income 1 447 1,335 2,047 1,666 1,982 2,082 2,048 2,221
Net margin 37.47% 56.83% 62.01% 56.04% 57.67% 57.03% 54.86% 55.54%
EPS 2 2.940 8.660 13.00 10.67 12.64 13.24 13.03 14.04
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 2.300 0.8500 9.200 7.500 11.50 10.15 9.893 10.59
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/19/24 - - -
1SEK in Million2SEK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 824 768 618 740 847 868 833 854 882 951 923.2 910.8 907.5 941.3 936.6
EBITDA 1 - - - - - - - - - - 597.8 627.4 595.7 - -
EBIT 1 571 519 346 503 574 579 546 588 576 647 602.2 619.9 578.7 616 590
Operating Margin 69.3% 67.58% 55.99% 67.97% 67.77% 66.71% 65.55% 68.85% 65.31% 68.03% 65.24% 68.06% 63.76% 65.44% 63%
Earnings before Tax (EBT) 1 571 521 345 502 573 579 546 588 580 647 568 579 526 - -
Net income 1 483 443 296 433 494 501 472 510 499 555 518.8 533.9 498.2 530 507
Net margin 58.62% 57.68% 47.9% 58.51% 58.32% 57.72% 56.66% 59.72% 56.58% 58.36% 56.2% 58.62% 54.89% 56.31% 54.13%
EPS 2 3.060 2.810 1.880 2.780 3.150 3.180 3.010 3.250 3.180 3.530 3.461 3.542 3.226 3.289 3.184
Dividend per Share 2 - - - - 7.500 - - - 11.50 - - - 11.71 - -
Announcement Date 1/20/22 4/25/22 7/14/22 10/18/22 1/20/23 4/24/23 7/14/23 10/20/23 1/19/24 4/19/24 - - - - -
1SEK in Million2SEK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 49,393 53,098 52,349 58,130 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - 24.43 x - 21.51 x 23.41 x -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 27% 57% 50% 36% 38% 34.9% 32.5% 32.6%
ROA (Net income/ Total Assets) 0.3% 0.8% 0.84% 0.64% 0.76% 0.73% 0.63% 0.66%
Assets 1 149,000 166,875 242,939 260,069 261,788 286,246 325,583 339,125
Book Value Per Share 2 12.70 20.50 30.20 31.60 37.10 38.90 42.00 45.40
Cash Flow per Share 2 - - - - - 15.90 13.70 14.90
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 1/21/20 1/21/21 1/20/22 1/20/23 1/19/24 - - -
1SEK in Million2SEK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Avanza Bank Holding AB

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
UNDERPERFORM
Number of Analysts
11
Last Close Price
238.8 SEK
Average target price
218.2 SEK
Spread / Average Target
-8.63%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Investment Banking
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