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STOCK COMPARISON

DBS Group Holdings vs Swedbank AB (publ): Fair Value & Quality

Both stocks run through our valuation models. Here is how DBS Group Holdings (D05) and Swedbank AB (publ) (SWED-A) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Swedbank AB (publ) as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Swedbank AB (publ) trades at SEK 386 versus SEK 316 (-18%).
DBS Group Holdings
D05.SG · SGD · Financials
-49%
upside to fair value
overvalued
PriceS$78.65
Fair ValueS$40.48
Quality65/100
Swedbank AB (publ)
SWED-A.ST · SEK · Financials
-18%
upside to fair value
overvalued
PriceSEK 386
Fair ValueSEK 316
Quality48/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

DBS Group HoldingsSwedbank AB (publ)
Valuation
18.7×P/E (TTM)12.9×
7.23×P/S (TTM)6.00×
2.34×P/B1.81×
—EV/EBITDA18.5×
3.44×PEG7.20×
−48.5%Fair value upside−18.1%
3.6%Dividend yield5.3%
S$2.85Dividend per shareSEK 20.45
Profitability
60%Operating margin55%
0.99×EBIT margin trend (5Y)1.10×
16%Return on equity16%
1%Return on assets1%
Growth
3%Revenue growth (YoY)-3%
11.6%Avg. growth/yr (3Y)42.6%
9.4%Avg. growth/yr (5Y)21.5%
+12.6%Value creation/yr+15.8%
Balance & size
0.6×Interest coverage (EBIT/interest)0.9×
0.69×Debt / equity2.91×
$161BMarket cap$43B
healthyGrowth qualityexpensive

Swedbank AB (publ) leads: 4 to 10 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

DBS Group Holdingsof which business quality 61 · market factors 96 Swedbank AB (publ)of which business quality 42 · market factors 89
ProfitabilityMargins and returns on capital today
38
37
Quality GrowthAre margins and returns improving?
54
58
CashflowEarnings quality: real cash, not paper profit
84
0
Fin. StrengthBalance sheet, leverage, solvency risk
56
29
InvestmentDisciplined investing over empire-building
78
82
Low VolatilityCalm price path (market factor)
99
96
MomentumPrice trend over the last 3–12 months (market factor)
91
79
52W MomentumDistance to the 52-week high (market factor)
100
99
Net IssuanceBuybacks instead of dilution
65
81

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyDBS Group HoldingsPrice S$78.65Swedbank AB (publ)Price SEK 386
Dividend Discount-30%below the priceS$54.87n/a
Multiples-47%below the priceS$42.04-14%close to the priceSEK 330
Asset-Based-79%below the priceS$16.26-65%below the priceSEK 135
Economic Profit-59%below the priceS$32.23-31%below the priceSEK 265
Minimum-79%below the priceS$16.26-65%below the priceSEK 135
Maximum-30%below the priceS$54.87-14%close to the priceSEK 330
Median-53%below the priceS$37.13-31%below the priceSEK 265
Geometric mean-58%below the priceS$33.16-41%below the priceSEK 228

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

DBS Group Holdings: 6 of 6 models see the stock below the current price.

Swedbank AB (publ): 4 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

DBS Group Holdings
Bear S$30.36Fair Value S$40.48Bull S$50.60
S$78.65 = current price (white tick)
Swedbank AB (publ)
Bear SEK 237Fair Value SEK 316Bull SEK 395
SEK 386 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

DBS Group Holdings · Financials

Quality score65 · Top 25%
Fair value upside-49% · bottom 25%

Swedbank AB (publ) · Financials

Quality score48 · below median
Fair value upside-18% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Swedbank AB (publ) as the less overvalued of the two: DBS Group Holdings trades at S$78.65 versus a fair value of S$40.48 (-49%), while Swedbank AB (publ) trades at SEK 386 versus SEK 316 (-18%).

DBS Group Holdings has the higher quality score (65/100).

See the full analysis →
DBS Group Holdings · Swedbank AB (publ)

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.