Companies ›Financials ›NDAFI.HE

NDAFI.HE — Nasdaq Helsinki Banks

Nordea Bank Abp

€16,35

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Mcap

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P/E

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EV / Rev

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Div yield

5,70 %

Op margin

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ROE

14,5 %

Net margin

66,3 %

Debt / equity

6,88

Beta

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52w range

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Volume

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Day range

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Prev close

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Open

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Next earnings

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Ex-dividend

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TR 1Y

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About

Nordea Bank Abp is a commercial bank operating in the Banking & Investment Services sector, generating revenue through interest income and fees from its banking activities.

Business. Nordea Bank Abp is a commercial bank operating within the Banking Services industry group. The company is headquartered in Finland and is primarily listed on the Nasdaq Helsinki exchange under the ticker NDAFI.HE. Specific details regarding its operating segments and geographic mix are not provided in the available data. Consequently, the firm is described at the industry level as an entity engaged in commercial banking activities.

Classification74 %

SectorFinancials

Business sectorBanking & Investment Services

Industry groupBanking Services

IndustryBanks

ActivityCommercial Banks

Generated · model-assisted

Sell-side consensus

BUY12 analysts

8 buy1 hold3 sell

Avg 12m price target17,56

Analyst recommendations

12 analysts · consensus Buy

Buy8

Hold1

Sell3

12-month price target

17,56

Consensus of sell-side coverage.

Upcoming events

— missing data

See all catalysts →

At a glance

Score

—

not yet scored

Valuation

—

valuation pending

Analysts→

Buy

12 analysts · indicative

Ownership→

PNC Investments LLC

largest disclosed fund holder

Profitability→

14,5 %

return on equity

Quality

—

not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

No recent newsroom coverage mentioning NDAFI.

Sector rotation

Sector1D1Mvs mkt

Materials+2,3 %+6,6 %+1,7 %

Communication Services+2,2 %−5,5 %+1,6 %

Energy+0,6 %+3,3 %+0,0 %

Health Care+0,6 %−0,8 %+0,0 %

Information Technology+0,6 %+6,7 %+0,0 %

Consumer Discretionary+0,4 %+7,6 %−0,2 %

Financials · THIS SECTOR−0,3 %−2,8 %−0,9 %

Consumer Staples−0,4 %+2,5 %−1,0 %

Real Estate−0,7 %+10,9 %−1,3 %

Industrials−1,9 %−3,1 %−2,5 %

Utilities−1,9 %+28,2 %−2,5 %

Developing storylines

No tracked sagas currently linked to NDAFI.HE. Browse all sagas →

Analysis

AI analysis

Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

Opportunity

— missing data

Upcoming catalysts

Scheduled public events. Informational only — not investment advice.

Peers
DividendDividend USD 1.75/sh2026-09-25 · Bank of America (BAC)
EarningsQ3 2026 earnings (expected)2026-10-13 · estimated · JPMorgan Chase (JPM)
EarningsQ3 2026 earnings (expected)2026-10-13 · estimated · Citigroup (C)
Macro
Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
Macro & political
ElectionSE Swedish Election2026-09-14 · SE
ElectionUS U.S. Midterms2026-11-03 · US
ElectionFR French Legislative2027-06-01 · FR

Pre-earnings brief

— missing data

Signals & dispatch

peak dispatch · —

Composite-score breakdown

Synthesis

Business

Nordea Bank Abp is a commercial bank operating within the Banking Services industry group. The company is headquartered in Finland and is primarily listed on the Nasdaq Helsinki exchange under the ticker NDAFI.HE. Specific details regarding its operating segments and geographic mix are not provided in the available data. Consequently, the firm is described at the industry level as an entity engaged in commercial banking activities.

Classification74 %

SectorFinancials

Business sectorBanking & Investment Services

Industry groupBanking Services

IndustryBanks

ActivityCommercial Banks

AI synthesis

GENERATED

— missing data

Key takeaways

Nordea Bank Abp reports a debt-to-equity ratio of 6.88, consistent with high-leverage banking models.
Return on equity is 14.52%, demonstrating strong profitability relative to shareholder equity.
Net income of 4.84 billion EUR on 7.17 billion EUR revenue indicates a high net income margin.
Liquidity risk is rated medium, while dilution risk is low with no difference between basic and diluted shares.
Analyst sentiment is positive with a mean recommendation of 2.33 and a median price target of 18.00 EUR.
Negative net cash position is flagged as a key structural characteristic of the bank's balance sheet.

Bull / Bear case

Generated · model-assisted

BULL CASE · 4

Nordea's 14.5% ROE significantly exceeds the 6.2% median for the Banks cohort, demonstrating superior profitability.

Analysts project a 7.4% upside to the mean price target of EUR 17.56 from the current price.

Total assets grew at a 3.5% CAGR over five years, indicating steady balance sheet expansion.

Net income demonstrated a 6.0% CAGR over the last four years, showing consistent earnings growth.

BEAR CASE · 5

Revenue declined 5.6% year-over-year in the latest period, signaling a contraction in top-line growth.

The debt-to-equity ratio of 6.88 places Nordea in the bottom quartile of the Banks cohort.

Net income fell 4.3% year-over-year in the latest period, reflecting a slowdown in profitability.

Free cash flow decreased by 9.0% year-over-year, indicating weakening cash generation capabilities.

Equity contracted with a negative 0.8% CAGR over five years, suggesting limited capital accumulation.

In focus — financials by report

Quarterly

Annual

QUARTERLYFiled 2026-04-22

Q1 2026 · Quarter highlights

Revenue €1.76B, −3,8% YoY; Net income −10,9% YoY.

Revenue€1.76B−3,8 % YoY

Operating income—

Net income€1.10B−10,9 % YoY

Free cash flow€1.24B+165,2 % YoY

EPS—

Operating cash flow-€397.0M−110,1 % YoY

Financials

Income statement

Revenue€1.76B

Gross profit—

Operating income—

Net income€1.10B

Margins

Gross margin—

Operating margin—

Net margin62.5%

FCF margin70.5%

Balance sheet

Total assets€679.01B

Total liabilities€648.91B

Total equity€30.09B

Cash & equivalents—

Long-term debt€212.90B

Cash flow

Operating cash flow-€397.0M

CapEx-€15.0M

Free cash flow€1.24B

SBC—

Highlights

▍Revenue €1.76B, −3,8% YoY
▍Net income −10,9% YoY
▍Free cash flow +165,2% YoY
▍Net margin 62.5%

Valuation TTM

Market price

€16,35

Market cap

—

Enterprise valueⓘ

—

P/Eⓘ

—

Non-GAAP P/Eⓘ

—

EV / Revenueⓘ

—

EV / Op incomeⓘ

—

EV / OCFⓘ

—

P / Bⓘ

—

P / Tangible bookⓘ

—

Tangible book

€32.42B

Net cashⓘ

-€223.20B

Current ratioⓘ

—

Debt / equityⓘ

6.9

ROAⓘ

0.7%

ROEⓘ

14.5%

Cash conversionⓘ

-67.0%

CapEx / revenueⓘ

-1.1%

SBC / revenueⓘ

—

Dilution ratioⓘ

0.0%

Revenue by segment

Consumer & Retail Banking—

low · llm_fanout_v2

Retail / Shopping Centres—

low · llm_fanout_v2

Retail Banking—

low · llm_fanout_v2

Retail Banking Services—

low · llm_fanout_v2

Business relationships

— missing data

Supply chain

— missing data

Peer comparison

— missing data

Market position

Stress test

— missing data

Predictor forecast

Next quarternear-term

Earnings · next quarterconf 46 %

EPS

Consensus EPS

1,41

Predicted surprise

-0,00

Beat probability

46 %

Analysts

Other metrics

Revenue

—

no estimate

Segment revenue

—

no estimate

Margin

—

no estimate

Segment margin

—

no estimate

revision ratio 0,01 · as of 2026-07-11 · Earnings Surprise V1

Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.

Full fiscal year~1 year ahead

Full fiscal year · our forecast vs guidance vs consensus

Metric	Our forecast	Guidance	Consensus
EPS	—no estimate	—no estimate	1,41
Revenue	—no estimate	—no estimate	12,0B EUR
Operating income	—no estimate	—no estimate	6,3B EUR

Full-year consensus mean (period as reported by source) · consensus in EUR. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.

Probabilistic model output — not investment advice. · generated 2026-08-04

Options

— missing data

Short squeeze

— missing data

Earnings-call key lines

— missing data

Consensus distribution

sell-side coverage

Recommendation distribution12 analysts

Strong buy3

Buy5

Hold1

Sell3

Strong sell0

12-month price target€17,56 · Median €18,00

Low €13,40High €20,00

Operating income · consensus6,3B EUR

EPS surprise

−1,7 %

reported vs consensus · miss

Revenue surprise

−1,9 %

reported vs consensus · miss

Estimate revisions

consensus EPS · 26-week trend

— missing data

Sell-side observations

Low€13,40

Mean€17,56

Median€18,00

High€20,00

Spot€16,35

+7.4 %implied to mean12-month sell-side price targets · ▲ spot

Themes

— missing data

ESG

— missing data

Risk factors

Dilution riskLow

Liquidity riskMedium

Filing-based flags

Net cash is negative after subtracting total debt.

Benchmarks vs cohort

Net Margin66,3 %Above P75

ROE14,5 %Above P75

Capex / Rev-1,1 %Above P75

D/E6,88Bottom quartile

Cash Conv-0,67Bottom quartile

Corporate actions / M&A

— missing data

FX exposure

— missing data

Comparable transactions

— missing data

Derivatives & instruments

— missing data

Actions

Set alert Open in charts

Ask Handelsavisen

— missing data

Data sources

Market data
Market data cache
Issuer disclosures
Public news
Earnings transcripts
Consensus estimates
ESG data
Reference data

How metrics are computed

Debt To Equity
(short_term_debt + long_term_debt) / total_equity
Cash Conversion Ratio
operating_cash_flow / net_income
Dilution Ratio
(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
Net Cash
cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
Return On Assets
net_income / total_assets
Return On Equity
net_income / total_equity

Source documents

Nordea Bank Abp Market data — financials · 2026-07-11
Nordea Bank Abp Market data — analyst estimates · 2026-07-11
Nordea Bank Abp Market data — ESG · 2026-07-11
Nordea Bank Abp — company reference export (2026-07-05) · 2026-07-11

Ownership & reference

Top holders

PNC Investments LLCInvestment Managers · as of 2026-03-310,00 %$0M

Insider activity

— missing data

Short positioning

— missing data

Index membership

OMX Stockholm 30

Geographic breakdown

— missing data

Listings · one canonical issuer all listings resolve to the canonical

NDAFI.HECanonical

Nasdaq Helsinki · EUR

Intel & risk

PredictorBeat prob46 %Surprise-0,00Full forecast →

peak dispatch · —

OSINT findings

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Relationship graph

This companyPeerSector

Evidence & claims

From filings & derived data

— missing data

The Thread

Everything we know, in order

2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)

2026-04-22 07:31 UTCEARNINGSQuarterly results — Q1 2026 Revenue EUR 1.76B · Net EUR 1.10B

2026-01-29 06:25 UTCEARNINGSQuarterly results — Q4 2025 Revenue EUR 1.76B · Net EUR 1.16B

2026-01-29 06:25 UTCEARNINGSAnnual results — FY 2026 Revenue EUR 7.17B · Net EUR 4.84B

2025-10-16 06:17 UTCEARNINGSQuarterly results — Q3 2025 Revenue EUR 1.77B · Net EUR 1.23B

2025-07-17 05:30 UTCEARNINGSQuarterly results — Q2 2025 Revenue EUR 1.80B · Net EUR 1.22B

2025-04-16 09:31 UTCEARNINGSQuarterly results — Q1 2025 Revenue EUR 1.83B · Net EUR 1.23B

2025-01-30 05:30 UTCEARNINGSQuarterly results — Q4 2024 Revenue EUR 1.85B · Net EUR 1.13B

2025-01-30 05:30 UTCEARNINGSAnnual results — FY 2025 Revenue EUR 7.59B · Net EUR 5.06B

2024-10-17 05:30 UTCEARNINGSQuarterly results — Q3 2024 Revenue EUR 1.88B · Net EUR 1.27B

2024-07-15 06:35 UTCEARNINGSQuarterly results — Q2 2024 Revenue EUR 1.90B · Net EUR 1.30B

2024-02-05 05:30 UTCEARNINGSAnnual results — FY 2024 Revenue EUR 7.45B · Net EUR 4.93B

2023-02-02 05:47 UTCEARNINGSAnnual results — FY 2023 Revenue EUR 5.66B · Net EUR 3.59B

2022-02-03 06:35 UTCEARNINGSAnnual results — FY 2022 Revenue EUR 4.92B · Net EUR 3.83B

The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.

Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data · Reference data Premium coverage

Analyst recommendations

At a glance

What drives this business

News & coverage

Sector rotation

Developing storylines

Analysis

Opportunity

Upcoming catalysts

Pre-earnings brief

Signals & dispatch

Composite-score breakdown

Synthesis

Bull / Bear case

In focus — financials by report

Valuation TTM

Revenue by segment

Market share

Business relationships

Supply chain

Peer comparison

Market position

Stress test

Predictor forecast

Options

Short squeeze

Earnings-call key lines

Consensus distribution

Estimate revisions

Sell-side observations

Themes

ESG

Risk factors

Benchmarks vs cohort

Corporate actions / M&A

FX exposure

Comparable transactions

Derivatives & instruments

Actions

Ask Handelsavisen

Ownership & reference

Top holders

Insider activity

Short positioning

Geographic breakdown

Intel & risk

Evidence & claims

The Thread