Nordea Bank
10.89 EUR -0.77%25,358 investors are following this company
Nordea conducts banking operations. The bank offers a wide range of financial services, aimed at both private and corporate customers, including traditional asset management, loan financing, and pension savings. In addition, advice and security insurance are also offered, as well as currency management. Nordea conducts most of its business in the Nordic and Baltic countries. The company was founded in 1997 and the head office is located in Helsinki.
P/E (24e)
7.42
ROE-% (24e)
16.49 %
P/B (24e)
1.19
Dividend yield-% (24e)
8.76 %
Target price
12.50 EUR
Recommendation
Buy
Updated
18.4.2024
NASDAQ Helsinki
NDA FI
Daily low / high price
10.795 / 11.035
EUR
Market cap
38.18B EUR
Turnover
77.44M EUR
Volume
7.1M
Business risk
Valuation risk
Current
Previous
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Kasper Mellas
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Financial calendar
Interim report
2024-07-15
Interim report
2024-10-17
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
BlackRock | 5.1 % | 5.1 % |
Cevian Capital | 4.5 % | 4.5 % |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Operating income | 8,466.0 | 9,620.0 | 9,721.0 | 11,743.0 | 12,190.2 | 12,006.0 | 12,004.5 | 11,977.9 |
growth-% | -1.8 % | 13.6 % | 1.0 % | 20.8 % | 3.8 % | -1.5 % | -0.0 % | -0.2 % |
Operating expenses | -4,643.0 | -4,649.0 | -4,834.0 | -5,238.0 | -5,150.2 | -5,294.0 | -5,434.1 | -5,576.8 |
Credit loss | -860.0 | -35.0 | -125.0 | -167.0 | -371.1 | -389.2 | -399.9 | -409.9 |
EBIT (adj.) | 2,963.0 | 4,936.0 | 5,299.0 | 6,515.0 | 6,669.0 | 6,322.9 | 6,170.5 | 5,991.2 |
EBIT | 2,963.0 | 4,936.0 | 4,762.0 | 6,338.0 | 6,669.0 | 6,322.9 | 6,170.5 | 5,991.2 |
Net income | 2,265.0 | 3,831.0 | 3,587.0 | 4,934.0 | 5,138.6 | 4,868.6 | 4,751.3 | 4,613.2 |
EPS (adj.) | 0.55 | 0.95 | 1.11 | 1.44 | 1.47 | 1.41 | 1.39 | 1.35 |
growth-% | -10.2 % | 73.1 % | 16.4 % | 29.9 % | 1.9 % | -3.6 % | -1.4 % | -2.9 % |
Dividend | 0.39 | 0.69 | 0.80 | 0.92 | 0.95 | 0.92 | 0.91 | 0.88 |
Dividend ratio | 69.7 % | 71.4 % | 81.5 % | 65.8 % | 64.5 % | 64.3 % | 65.0 % | 65.0 % |
Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Cost to income-% | 54.8 % | 48.3 % | 49.7 % | 44.6 % | 42.2 % | 44.1 % | 45.3 % | 46.6 % |
ROA | 0.4 % | 0.7 % | 0.6 % | 0.8 % | 0.9 % | 0.8 % | 0.8 % | 0.7 % |
ROE | 7.1 % | 11.7 % | 11.4 % | 16.3 % | 16.5 % | 15.1 % | 14.2 % | 13.2 % |
ROE tangible | 7.8 % | 12.8 % | 12.7 % | 18.2 % | 18.4 % | 16.9 % | 15.9 % | 14.7 % |
Dividend yield | 5.9 % | 6.4 % | 8.0 % | 8.2 % | 8.8 % | 8.4 % | 8.3 % | 8.1 % |
Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 6.67 | 10.79 | 10.03 | 11.23 | 10.89 | 10.89 | 10.89 | 10.89 |
Shares | 4,050.0 | 3,966.0 | 3,654.0 | 3,528.0 | 3,478.0 | 3,408.0 | 3,408.0 | 3,408.0 |
Market cap | 27,021.6 | 42,777.3 | 36,649.6 | 39,605.3 | 37,875.4 | 37,113.1 | 37,113.1 | 37,113.1 |
Enterprise value | 33,451.6 | 49,641.3 | 42,873.6 | 44,424.5 | 41,159.8 | 38,912.9 | 37,357.5 | 35,892.6 |
P/E (adj.) | 12.1 | 11.3 | 9.0 | 7.8 | 7.4 | 7.7 | 7.8 | 8.0 |
P/B | 0.8 | 1.3 | 1.2 | 1.3 | 1.2 | 1.1 | 1.1 | 1.0 |
P/B tangible | 0.90 | 1.44 | 1.37 | 1.45 | 1.33 | 1.27 | 1.21 | 1.15 |
Dividend yield | 5.9 % | 6.4 % | 8.0 % | 8.2 % | 8.8 % | 8.4 % | 8.3 % | 8.1 % |
Common equity-% (CET1) | 17.1 % | 17.0 % | 16.4 % | 17.0 % | 16.9 % | 16.1 % | 16.8 % | 17.5 % |
Equity ratio | 6.1 % | 5.9 % | 5.2 % | 5.3 % | 5.5 % | 5.5 % | 5.6 % | 5.7 % |
Quarter data
Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24e | Q2/24e | Q3/24e | Q4/24e | |
---|---|---|---|---|---|---|---|---|---|
Operating income | 2,921.0 | 2,955.0 | 2,952.0 | 2,915.0 | 11,743.0 | 3,085.0 | 3,043.4 | 3,038.8 | 3,023.1 |
EBIT | 1,480.0 | 1,718.0 | 1,725.0 | 1,415.0 | 6,338.0 | 1,763.0 | 1,654.3 | 1,667.9 | 1,583.8 |
Net income | 1,148.0 | 1,335.0 | 1,345.0 | 1,106.0 | 4,934.0 | 1,361.0 | 1,273.8 | 1,284.3 | 1,219.5 |
EPS (adj.) | 0.32 | 0.37 | 0.38 | 0.37 | 1.44 | 0.39 | 0.36 | 0.37 | 0.35 |
ShowingAll content types
Nordea Economic Outlook: Falling into place
Nordea: Business is creditable
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