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Nordnet AB (publ) (SAVE.ST)

SEK368.80 +0.80 (+0.22%)
SE STO Financial Services Financial - Capital Markets
Address Alströmergatan 39 104 25
Stockholm, SE
CEO Rasmus Jarborg
IPO 2020-11-25
ISIN SE0015192067

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Description

Nordnet AB (publ) is a financial services group operating across Sweden, Norway, Denmark, and Finland, with core activities in investments, savings, pensions, and lending. The company provides a comprehensive digital platform that facilitates access to various investment and savings products, including stocks, mutual funds, and other financial securities, all accessible via its website, mobile application, and other digital interfaces. Nordnet's lending portfolio encompasses portfolio-backed loans, residential mortgages, and unsecured personal loans. Additionally, the company offers retirement savings solutions. A distinctive feature is Shareville, an interactive social investment network where clients can observe and track the investment strategies of fellow investors. Established in 1996, Nordnet maintains its headquarters in Stockholm, Sweden.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
SEK368.80 +0.80 (+0.22%)
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Volume Profile
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Liquidity & share structure
Average Volume
271.8K
Beta
0.55
Float Shares
150.10M
Free Float %
60.3%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
368.80
DCF (Unlevered) 399.46 +8.3%
DCF (Levered) 553.41 +50.1%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 33% Bullish
Rating 2026-04 Change
Strong Buy 1 0
Buy 3 0
Hold 5 0
Sell 0 0
Strong Sell 3 +1
Quality scores
Altman Z-Score
-0.09
Distress
Piotroski F-Score
7 / 9
Strong
MOAT Score
8 / 10
Strong MOAT
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers ★ Strong MOAT
  • Revenue growth Financial - Capital Markets: +19.7%
    +9.9% Q1'26: +2.6% (vs Q1'25)
  • EPS growth Financial - Capital Markets: +35.3%
    +9.0% Q1'26: +6.1% (vs Q1'25)
  • FCF margin FCF growth · Financial - Capital Markets: +29.5%
    +182.1% Q1'26: +563.1% (vs Q1'25)
  • EBIT margin Financial - Capital Markets: +33.5%
    +56.9% Q1'26: +65.1% (vs Q1'25)
  • ROIC Financial - Capital Markets: +4.0%
    +81.7% Q1'26: +66.3% (vs Q1'25)
  • Share dilution Financial - Capital Markets: +0.0%
    -0.6% Q1'26: -0.8% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Financial - Capital Markets: -0.30×
    0.23× Q1'26: 0.00× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.59) × ERP
WACC = 99% × Ke + 1% × Kd (50.6%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 399.46 Current price: 368.80
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
11 Rev. Ana.
10 EPS Ana.
Dec 2027
10 Rev. Ana.
9 EPS Ana.
Dec 2028
9 Rev. Ana.
7 EPS Ana.
Dec 2029
4 Rev. Ana.
2 EPS Ana.
Dec 2030
4 Rev. Ana.
5 EPS Ana.
Revenue
2.83B
est: 2.58B (+9.7%)
3.74B
est: 3.52B (+6.2%)
3.74B
est: 3.38B (+10.7%)
5.19B
est: 5.42B (-4.2%)
5.98B
est: 5.03B (+18.9%)
6.57B
est: 5.35B (+22.7%)
6.09B
5.83B – 6.29B
+13.8% YoY
6.76B
6.40B – 7.46B
+11.1% YoY
7.48B
7.44B – 7.52B
+10.6% YoY
8.33B
7.93B – 8.91B
+11.3% YoY
9.20B
8.75B – 9.84B
+10.4% YoY
EBITDA
1.60B
est: 1.61B (-0.2%)
2.61B
est: 2.19B (+19.1%)
2.21B
est: 2.11B (+4.7%)
3.34B
est: 3.42B (-2.1%)
3.68B
est: 3.17B (+16.2%)
3.96B
est: 3.37B (+17.5%)
3.84B
3.68B – 3.96B
+13.8% YoY
4.26B
4.03B – 4.70B
+11.1% YoY
4.71B
4.69B – 4.74B
+10.6% YoY
5.25B
5.00B – 5.61B
+11.3% YoY
5.80B
5.52B – 6.20B
+10.4% YoY
EBIT
1.45B
est: 1.50B (-3.3%)
2.45B
est: 2.04B (+19.9%)
2.03B
est: 1.96B (+3.6%)
3.16B
est: 3.21B (-1.3%)
3.48B
est: 2.98B (+17.0%)
3.74B
est: 3.17B (+18.0%)
3.60B
3.45B – 3.72B
+13.8% YoY
4.00B
3.79B – 4.41B
+11.1% YoY
4.43B
4.40B – 4.45B
+10.6% YoY
4.93B
4.69B – 5.27B
+11.3% YoY
5.44B
5.18B – 5.82B
+10.4% YoY
Net Income
1.17B
est: 1.11B (+6.1%)
1.98B
est: 1.91B (+3.7%)
1.65B
est: 1.68B (-1.9%)
2.58B
est: 2.67B (-3.5%)
2.81B
est: 2.81B (+0.0%)
3.02B
est: 2.97B (+1.5%)
3.46B
3.23B – 3.63B
+16.5% YoY
3.88B
3.64B – 4.05B
+12.1% YoY
4.36B
4.03B – 4.57B
+12.4% YoY
4.91B
4.60B – 5.35B
+12.6% YoY
5.47B
5.13B – 5.96B
+11.4% YoY
SGA
301.40M
est: 160.83M (+87.4%)
194.80M
est: 219.84M (-11.4%)
275.90M
est: 211.19M (+30.6%)
176.70M
est: 439.51M (-59.8%)
273.10M
est: 407.87M (-33.0%)
1.31B
est: 434.05M (+202.7%)
493.76M
472.86M – 510.08M
+13.8% YoY
548.49M
519.10M – 604.90M
+11.1% YoY
606.53M
603.36M – 609.69M
+10.6% YoY
675.31M
642.73M – 722.45M
+11.3% YoY
745.86M
709.87M – 797.92M
+10.4% YoY
EPS
4.55
est: 4.40 (+3.5%)
7.79
est: 7.60 (+2.4%)
6.35
est: 6.69 (-5.1%)
9.83
est: 10.66 (-7.8%)
10.84
est: 11.11 (-2.5%)
11.83
est: 11.88 (-0.4%)
13.78
12.90 – 14.51
+16.0% YoY
15.52
14.56 – 16.19
+12.6% YoY
17.41
16.10 – 18.29
+12.2% YoY
19.63
18.40 – 21.41
+12.8% YoY
21.87
20.50 – 23.85
+11.4% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-04-24 B+ 3/5 4/5 5/5 4/5 2/5 2/5 1/5
2026-04-23 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-04-22 B+ 3/5 4/5 5/5 4/5 2/5 2/5 1/5
2026-04-21 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-04-20 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-04-17 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-04-16 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5
2026-04-15 B+ 3/5 5/5 5/5 4/5 2/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
14.07B
OE per share TTM
56.49
Owner's Yield
18.17%
Maintenance CapEx ratio
7.55%
Maint CapEx / Avg PPE
6.6%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
4.71M
Shares Outstanding
248.72M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Lars-Ake Valdemar Norling Chief Executive Officer 13M male
Rasmus Jarborg Deputy Chief Executive Officer & Chief Product Officer 5M male
Johan Tidestad Chief Communications Officer male
Lennart Kran Chief Financial Officer male
Carina Tovi Chief Human Resources Officer female
Mari Rindal Øyen Country Manager Norway
Niklas Soderstrom Chief Executive Officer of Nordnet Fonder AB male
Per Lindberg Chief Executive Officer of Nordnet Pensionsforsakring male
Marcus Lindberg Head of Investor Relations male
Elias Lindholm Chief Technology Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits