Nordea Bank
10.62
EUR
-0.05 %
NDA FI
NASDAQ Helsinki
Banks
Financials
27,114 following
-0.05%
+0.95%
-4.15%
+2.02%
-7.29%
-5.4%
+2.31%
-1.56%
+63.01%
+137.28%
www.nordea.com/en/investors
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 (adj.) (24e)
7.29
ROE-% (24e)
16.32 %
P/B (24e)
1.17
Dividend yield-% (24e)
9.02 %
Target price
12.50 EUR
Recommendation
Buy
Updated
20.11.2024
NASDAQ Helsinki
NDA FI
Daily low / high price
10.555 / 10.68
EUR
Market cap
37.18B EUR
Turnover
9.11M EUR
Volume
860K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Kasper Mellas
Analyst
Latest videos
Financial calendar
Annual report
30.01.2025
General meeting
20.03.2025
Interim report
16.04.2025
Interim report
17.07.2025
Interim report
16.10.2025
Major OwnersSource: Millistream Market Data AB
| Owner | Capital | Votes |
|---|---|---|
| BlackRock | 5.2 % | 5.2 % |
| Norges Bank | 5.0 % | 5.0 % |
| Nordea Fonden | 4.4 % | 4.4 % |
| Vanguard Funds | 3.8 % | 3.8 % |
| Cevian Capital | 3.8 % | 3.8 % |
| Alecta | 2.4 % | 2.4 % |
| Swedbank Robur Funds | 1.8 % | 1.8 % |
| SEB Funds | 1.3 % | 1.3 % |
| Varma Mutual Pension Insurance Company | 1.1 % | 1.1 % |
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Operating income | 8,466.0 | 9,620.0 | 9,721.0 | 11,743.0 | 12,135.9 | 12,018.9 | 11,997.1 | 12,277.4 |
| growth-% | -1.8 % | 13.6 % | 1.0 % | 20.8 % | 3.3 % | -1.0 % | -0.2 % | 2.3 % |
| Operating expenses | -4,643.0 | -4,649.0 | -4,834.0 | -5,238.0 | -5,317.8 | -5,453.7 | -5,575.5 | -5,709.8 |
| Credit loss | -860.0 | -35.0 | -125.0 | -167.0 | -249.1 | -379.1 | -368.4 | -375.8 |
| EBIT (adj.) | 2,963.0 | 4,936.0 | 5,299.0 | 6,515.0 | 6,600.4 | 6,186.1 | 6,053.2 | 6,191.8 |
| EBIT | 2,963.0 | 4,936.0 | 4,762.0 | 6,338.0 | 6,568.9 | 6,186.1 | 6,053.2 | 6,191.8 |
| Net income | 2,265.0 | 3,831.0 | 3,587.0 | 4,934.0 | 5,075.7 | 4,763.3 | 4,661.0 | 4,767.7 |
| EPS (adj.) | 0.55 | 0.95 | 1.11 | 1.44 | 1.46 | 1.37 | 1.37 | 1.44 |
| growth-% | -10.2 % | 73.1 % | 16.4 % | 29.9 % | 1.3 % | -5.9 % | 0.2 % | 5.1 % |
| Dividend | 0.39 | 0.69 | 0.80 | 0.92 | 0.96 | 0.92 | 0.91 | 0.95 |
| Dividend ratio | 69.7 % | 71.4 % | 81.5 % | 65.8 % | 66.0 % | 66.0 % | 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 % | 43.8 % | 45.4 % | 46.5 % | 46.5 % |
| ROA | 0.4 % | 0.7 % | 0.6 % | 0.8 % | 0.8 % | 0.8 % | 0.7 % | 0.7 % |
| ROE | 7.1 % | 11.7 % | 11.4 % | 16.3 % | 16.3 % | 14.8 % | 14.2 % | 14.3 % |
| ROE tangible | 7.8 % | 12.8 % | 12.7 % | 18.2 % | 18.1 % | 16.4 % | 15.8 % | 15.8 % |
| Dividend yield | 5.9 % | 6.4 % | 8.0 % | 8.2 % | 9.0 % | 8.6 % | 8.5 % | 9.0 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 6.67 | 10.79 | 10.03 | 11.23 | 10.62 | 10.62 | 10.62 | 10.62 |
| Shares | 4,050.0 | 3,966.0 | 3,654.0 | 3,528.0 | 3,496.0 | 3,437.0 | 3,346.0 | 3,255.0 |
| Market cap | 27,013.5 | 42,793.1 | 36,649.6 | 39,619.4 | 37,127.5 | 36,500.9 | 35,534.5 | 34,568.1 |
| Enterprise value | 33,443.5 | 49,657.1 | 42,873.6 | 44,438.6 | 40,572.9 | 38,767.2 | 36,268.8 | 33,702.1 |
| P/E (adj.) | 12.1 | 11.3 | 9.0 | 7.8 | 7.3 | 7.7 | 7.7 | 7.4 |
| 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 | 1.30 | 1.24 | 1.19 | 1.13 |
| Dividend yield | 5.9 % | 6.4 % | 8.0 % | 8.2 % | 9.0 % | 8.6 % | 8.5 % | 9.0 % |
| Common equity-% (CET1) | 17.1 % | 17.0 % | 16.4 % | 17.0 % | 15.6 % | 15.5 % | 15.7 % | 16.1 % |
| Equity ratio | 6.1 % | 5.9 % | 5.2 % | 5.3 % | 5.2 % | 5.2 % | 5.2 % | 5.2 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Operating income | 2,915.0 | 11,743.0 | 3,085.0 | 3,030.0 | 3,014.0 | 3,006.9 | 12,135.9 | ||
| EBIT | 1,415.0 | 6,338.0 | 1,763.0 | 1,684.0 | 1,634.0 | 1,487.9 | 6,568.9 | ||
| Net income | 1,106.0 | 4,934.0 | 1,361.0 | 1,303.0 | 1,266.0 | 1,145.7 | 5,075.7 | ||
| EPS (adj.) | 0.37 | 1.44 | 0.39 | 0.37 | 0.37 | 0.33 | 1.46 |
ShowingAll content types
Nordea: Danske deal completed
Nordea Bank Abp: Repurchase of own shares on 19.11.2024
Join Inderes community
Don't miss out - create an account and get all the possible benefits
Inderes account
Followings and notifications on followed companies
Analyst comments and recommendations
Stock comparison tool & other popular tools