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NORDEA BANK ABP (04Q.DE) Stock Fundamental Analysis

FRA:04Q - Deutsche Boerse Ag - FI4000297767 - Common Stock - Currency: EUR

12.11  +0.05 (+0.41%)

Fundamental Rating

3

Overall 04Q gets a fundamental rating of 3 out of 10. We evaluated 04Q against 97 industry peers in the Banks industry. While 04Q is still in line with the averages on profitability rating, there are concerns on its financial health. 04Q has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

04Q had positive earnings in the past year.
In the past year 04Q had a positive cash flow from operations.
Each year in the past 5 years 04Q has been profitable.
The reported operating cash flow has been mixed in the past 5 years: 04Q reported negative operating cash flow in multiple years.
04Q.DE Yearly Net Income VS EBIT VS OCF VS FCF04Q.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B 10B 15B 20B

1.2 Ratios

04Q has a Return On Assets of 0.76%. This is comparable to the rest of the industry: 04Q outperforms 54.64% of its industry peers.
With an excellent Return On Equity value of 16.49%, 04Q belongs to the best of the industry, outperforming 83.51% of the companies in the same industry.
Industry RankSector Rank
ROA 0.76%
ROE 16.49%
ROIC N/A
ROA(3y)0.75%
ROA(5y)0.66%
ROE(3y)14.26%
ROE(5y)12.16%
ROIC(3y)N/A
ROIC(5y)N/A
04Q.DE Yearly ROA, ROE, ROIC04Q.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With an excellent Profit Margin value of 38.06%, 04Q belongs to the best of the industry, outperforming 89.69% of the companies in the same industry.
04Q's Profit Margin has improved in the last couple of years.
04Q does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 38.06%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.57%
PM growth 5Y19.5%
GM growth 3YN/A
GM growth 5YN/A
04Q.DE Yearly Profit, Operating, Gross Margins04Q.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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2

2. Health

2.1 Basic Checks

04Q does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for 04Q has been reduced compared to 1 year ago.
Compared to 5 years ago, 04Q has less shares outstanding
The debt/assets ratio for 04Q has remained at the same level compared to a year ago.
04Q.DE Yearly Shares Outstanding04Q.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B
04Q.DE Yearly Total Debt VS Total Assets04Q.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B

2.2 Solvency

04Q has a debt to FCF ratio of 17.67. This is a negative value and a sign of low solvency as 04Q would need 17.67 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 17.67, 04Q is doing good in the industry, outperforming 77.32% of the companies in the same industry.
A Debt/Equity ratio of 6.84 is on the high side and indicates that 04Q has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 6.84, 04Q is doing worse than 89.69% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 6.84
Debt/FCF 17.67
Altman-Z N/A
ROIC/WACCN/A
WACC6.56%
04Q.DE Yearly LT Debt VS Equity VS FCF04Q.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50B 100B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
04Q.DE Yearly Current Assets VS Current Liabilites04Q.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

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2

3. Growth

3.1 Past

The earnings per share for 04Q have decreased by -2.78% in the last year.
04Q shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.37% yearly.
Looking at the last year, 04Q shows a small growth in Revenue. The Revenue has grown by 0.55% in the last year.
The Revenue has been growing slightly by 6.34% on average over the past years.
EPS 1Y (TTM)-2.78%
EPS 3Y14.61%
EPS 5Y19.37%
EPS Q2Q%-7.89%
Revenue 1Y (TTM)0.55%
Revenue growth 3Y7.03%
Revenue growth 5Y6.34%
Sales Q2Q%-3.6%

3.2 Future

The Earnings Per Share is expected to decrease by -4.84% on average over the next years.
Based on estimates for the next years, 04Q will show a decrease in Revenue. The Revenue will decrease by -2.12% on average per year.
EPS Next Y-5.31%
EPS Next 2Y-1.67%
EPS Next 3Y0.63%
EPS Next 5Y-4.84%
Revenue Next Year-2.89%
Revenue Next 2Y-0.73%
Revenue Next 3Y0.58%
Revenue Next 5Y-2.12%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
04Q.DE Yearly Revenue VS Estimates04Q.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2B 4B 6B 8B 10B
04Q.DE Yearly EPS VS Estimates04Q.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1

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5

4. Valuation

4.1 Price/Earnings Ratio

04Q is valuated reasonably with a Price/Earnings ratio of 8.65.
The rest of the industry has a similar Price/Earnings ratio as 04Q.
Compared to an average S&P500 Price/Earnings ratio of 28.88, 04Q is valued rather cheaply.
The Price/Forward Earnings ratio is 8.76, which indicates a very decent valuation of 04Q.
04Q's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. 04Q is cheaper than 61.86% of the companies in the same industry.
04Q's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.20.
Industry RankSector Rank
PE 8.65
Fwd PE 8.76
04Q.DE Price Earnings VS Forward Price Earnings04Q.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

83.51% of the companies in the same industry are more expensive than 04Q, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 3.68
EV/EBITDA N/A
04Q.DE Per share data04Q.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.45
EPS Next 2Y-1.67%
EPS Next 3Y0.63%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.76%, 04Q is a good candidate for dividend investing.
04Q's Dividend Yield is rather good when compared to the industry average which is at 5.42. 04Q pays more dividend than 87.63% of the companies in the same industry.
04Q's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
Industry RankSector Rank
Dividend Yield 7.76%

5.2 History

The dividend of 04Q has a limited annual growth rate of 5.87%.
Dividend Growth(5Y)5.87%
Div Incr Years2
Div Non Decr Years2
04Q.DE Yearly Dividends per share04Q.DE Yearly Dividends per shareYearly Dividends per share 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

04Q pays out 132.21% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of 04Q has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP132.21%
EPS Next 2Y-1.67%
EPS Next 3Y0.63%
04Q.DE Yearly Income VS Free CF VS Dividend04Q.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B -5B 10B 15B 20B
04Q.DE Dividend Payout.04Q.DE Dividend Payout, showing the Payout Ratio.04Q.DE Dividend Payout.PayoutRetained Earnings

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NORDEA BANK ABP

FRA:04Q (4/30/2025, 7:00:00 PM)

12.11

+0.05 (+0.41%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-16 2025-04-16/bmo
Earnings (Next)07-17 2025-07-17
Inst Owners57.59%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap42.27B
Analysts82.5
Price Target13.45 (11.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.76%
Yearly Dividend0.92
Dividend Growth(5Y)5.87%
DP132.21%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.92%
Min EPS beat(2)-0.78%
Max EPS beat(2)6.63%
EPS beat(4)3
Avg EPS beat(4)2.16%
Min EPS beat(4)-0.78%
Max EPS beat(4)6.63%
EPS beat(8)6
Avg EPS beat(8)1.93%
EPS beat(12)10
Avg EPS beat(12)5.18%
EPS beat(16)13
Avg EPS beat(16)1.46%
Revenue beat(2)1
Avg Revenue beat(2)-0.22%
Min Revenue beat(2)-0.84%
Max Revenue beat(2)0.41%
Revenue beat(4)2
Avg Revenue beat(4)-0.17%
Min Revenue beat(4)-0.84%
Max Revenue beat(4)0.41%
Revenue beat(8)3
Avg Revenue beat(8)-0.75%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-3.62%
PT rev (3m)-0.08%
EPS NQ rev (1m)-0.33%
EPS NQ rev (3m)-0.53%
EPS NY rev (1m)-1.44%
EPS NY rev (3m)-2.25%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)-0.77%
Revenue NY rev (1m)-0.8%
Revenue NY rev (3m)-0.75%
Valuation
Industry RankSector Rank
PE 8.65
Fwd PE 8.76
P/S 3.28
P/FCF 3.68
P/OCF 3.64
P/B 1.42
P/tB 1.64
EV/EBITDA N/A
EPS(TTM)1.4
EY11.56%
EPS(NY)1.38
Fwd EY11.42%
FCF(TTM)3.3
FCFY27.21%
OCF(TTM)3.32
OCFY27.45%
SpS3.69
BVpS8.52
TBVpS7.37
PEG (NY)N/A
PEG (5Y)0.45
Profitability
Industry RankSector Rank
ROA 0.76%
ROE 16.49%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 38.06%
GM N/A
FCFM 89.23%
ROA(3y)0.75%
ROA(5y)0.66%
ROE(3y)14.26%
ROE(5y)12.16%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y2.57%
PM growth 5Y19.5%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 6.84
Debt/FCF 17.67
Debt/EBITDA N/A
Cap/Depr 18.15%
Cap/Sales 0.79%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 234.47%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC6.56%
ROIC/WACCN/A
Cap/Depr(3y)13.57%
Cap/Depr(5y)39.58%
Cap/Sales(3y)0.65%
Cap/Sales(5y)2.22%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-2.78%
EPS 3Y14.61%
EPS 5Y19.37%
EPS Q2Q%-7.89%
EPS Next Y-5.31%
EPS Next 2Y-1.67%
EPS Next 3Y0.63%
EPS Next 5Y-4.84%
Revenue 1Y (TTM)0.55%
Revenue growth 3Y7.03%
Revenue growth 5Y6.34%
Sales Q2Q%-3.6%
Revenue Next Year-2.89%
Revenue Next 2Y-0.73%
Revenue Next 3Y0.58%
Revenue Next 5Y-2.12%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-11.69%
EBIT Next 3Y-2.66%
EBIT Next 5YN/A
FCF growth 1Y112.43%
FCF growth 3Y-63.8%
FCF growth 5YN/A
OCF growth 1Y114%
OCF growth 3Y-62.79%
OCF growth 5YN/A