Nordea Bank Abp
Buy, Hold or Sell?

Let's analyse Nordea together

Penke I guess you are interested in Nordea Bank Abp. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Nordea Bank Abp. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Nordea (30 sec.)

What can you expect buying and holding a share of Nordea? (30 sec.)

How much money do you get?

kr0.24

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

kr8.30

Expected worth in 1 year

kr8.30

How sure are you?

100.0%

+ What do you gain per year?

Total Gains per Share

kr2.66

Return On Investment

2.1%

For what price can you sell your share?

Current Price per Share

kr124.30

Expected price per share

kr118.70 - kr125.83

How sure are you?

50%

1. Valuation of Nordea (5 min.)

Live pricePrice per Share (EOD)

kr124.30

Book Value per Share

kr8.30

2. Growth of Nordea (5 min.)

Is Nordea growing?

	Current year	Previous year	Grow	Grow %
How rich?	$3b	$3b	0.00	0.0%

How much money is Nordea making?

	Current year	Previous year	Grow	Grow %
Making money	$328m	$349.3m	-$21.3m	-6.5%
Net Profit Margin	0.0%	0.0%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Nordea (5 min.)

What can you expect buying and holding a share of Nordea? (5 min.)

Welcome investor! Nordea's management wants to use your money to grow the business. In return you get a share of Nordea.

What can you expect buying and holding a share of Nordea?

First you should know what it really means to hold a share of Nordea. And how you can make/lose money.

Speculation

The Price per Share of Nordea is kr124.30. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Nordea.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Nordea, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is kr8.30. Based on the TTM, the Book Value Change Per Share is kr0.00 per quarter. Based on the YOY, the Book Value Change Per Share is kr-0.06 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is kr0.66 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Nordea.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	kr	% of Price per Share	kr	% of Price per Share	kr	% of Price per Share	kr	% of Price per Share	kr	% of Price per Share
Usd Eps	0.08	0.1%	0.08	0.1%	0.09	0.1%	0.06	0.1%	0.06	0.1%
Usd Book Value Change Per Share	0.00	0.0%	0.00	0.0%	-0.01	0.0%	0.00	0.0%	0.13	0.1%
Usd Dividend Per Share	0.06	0.0%	0.06	0.0%	0.07	0.1%	0.05	0.0%	0.05	0.0%
Usd Total Gains Per Share	0.06	0.0%	0.06	0.0%	0.07	0.1%	0.05	0.0%	0.18	0.1%
Usd Price Per Share	10.25	-	10.25	-	10.10	-	8.03	-	6.69	-
Price to Earnings Ratio	126.88	-	126.88	-	117.46	-	132.63	-	110.52	-
Price-to-Total Gains Ratio	169.24	-	169.24	-	149.93	-	154.89	-	154.89	-
Price to Book Ratio	13.55	-	13.55	-	13.34	-	10.75	-	8.96	-
Price-to-Total Gains Ratio	169.24	-	169.24	-	149.93	-	154.89	-	154.89	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	11.33616
Number of shares	88

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.06	0.05
Usd Book Value Change Per Share	0.00	0.00
Usd Total Gains Per Share	0.06	0.05
Gains per Quarter (88 shares)	5.33	4.71
Gains per Year (88 shares)	21.32	18.83

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	21	0	11	18	1	9
2	43	0	32	37	1	28
3	64	0	53	55	2	47
4	85	0	74	73	2	66
5	107	0	95	91	3	85
6	128	0	116	110	3	104
7	149	0	137	128	4	123
8	171	0	158	146	4	142
9	192	0	179	165	5	161
10	213	0	200	183	6	180

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	1.0	0.0	0.0	100.0%	3.0	0.0	0.0	100.0%	5.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%
Book Value Change Per Share	0.0	0.0	1.0	0.0%	1.0	1.0	1.0	33.3%	1.0	3.0	1.0	20.0%	2.0	3.0	1.0	33.3%	2.0	3.0	1.0	33.3%
Dividend per Share	1.0	0.0	0.0	100.0%	3.0	0.0	0.0	100.0%	5.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%
Total Gains per Share	1.0	0.0	0.0	100.0%	3.0	0.0	0.0	100.0%	5.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%	6.0	0.0	0.0	100.0%

Fundamentals of Nordea

About Nordea Bank Abp

https://www.nordea.com
29153
Satamaradankatu 5, Helsinki, Finland, 00020
Google Maps Bing Maps

Nordea Bank Abp offers banking products and services in Sweden, Finland, Norway, Denmark, and internationally. It operates through Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management segments. The Personal Banking segment provides various financial services to customers through mobile banking, over the phone, online meetings, and branch offices. The Business Banking segment offers payments, cash management, cards, working capital management, and cards and finance solutions to corporate and personal customers. The Large Corporates & Institutions segment provides financing, cash management and payment, investment banking, capital market products, and securities services to corporate and institutional customers. The Asset & Wealth Management segment offers investment, savings, and risk management solutions to high net worth individuals and institutional investors. It also offers account-based products, such as lending and deposit; project finance services, asset-based financing through leasing, hire purchase, and factoring, as well as sales to finance partners, such as dealers, vendors, and retailers; financial instruments or arrangement for financial instruments, including currencies, commodities, stocks, and bonds; and asset management, including investment funds, discretionary management, portfolio advice, equity trading, and pension accounts, as well as life insurance and pension products and services. Nordea Bank Abp was founded in 1820 and is headquartered in Helsinki, Finland.

Fundamental data was last updated by Penke on 2024-04-17 21:58:05.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is expensive.
Based on the earnings, the company is expensive.

1.1. Profitability of Nordea Bank Abp.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Nordea earns for each kr1 of revenue.

Above 10% is considered healthy but always compare Nordea to the industry mean.
A Net Profit Margin of 0.0% means that kr0.00 for each kr1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Nordea Bank Abp:

The MRQ is 0.0%. The data is not here.

Trends

Current period		Compared to		+/-
MRQ	-	TTM	-	0.0%
TTM	-	YOY	-	0.0%
TTM	-	5Y	-	0.0%
5Y	-	10Y	-	0.0%

Measures how much net profit Nordea earns for each kr1 of revenue.

Revenue is the amount of profit Nordea generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you kr3. The company does not earn kr3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is kr1.5.

The kr3 you pay for a cup of coffee is called revenue.
The kr1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Nordea earns for each kr1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Nordea to the industry mean.
Can be used to compare companies within the industry.

You typically want a high profit margin. This means that for each kr1 in sales, Nordea makes more profit. This shows the investor how efficiently Nordea is operating in general and compared to other companies in the same industry. Nordea operates in the industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Nordea. If profit margins remain low (compared to the industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Nordea is 0.00. This means that Nordea earned kr0.00 for each kr1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Nordea with other companies in the same industry ().
Net profit margin should rise over the years.
Can be influenced when Nordea sells assets (profit will increase while costs remain the same).
It won’t show what part of Nordea is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Nordea

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Nordea =
Total revenue MRQ Nordea =
kr / kr = 0.00 or 0.0%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Nordea is using its assets to generate profit.

Above 5% is considered healthy but always compare Nordea to the industry mean.
0.6% Return on Assets means that Nordea generated kr0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Nordea Bank Abp:

The MRQ is 0.6%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.6%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.6%	TTM	0.6%	0.0%
TTM	0.6%	YOY	0.7%	0.0%
TTM	0.6%	5Y	0.5%	+0.1%
5Y	0.5%	10Y	0.5%	0.0%

Shows how efficient Nordea is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Nordea to the industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Nordea is using its resources to generate profit. If the return on assets (0.6%) from Nordea are higher than the mean () that means Nordea is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Nordea is 0.6%. This means the company generated kr0.01 for each kr1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Nordea

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Nordea =
Total assets MRQ (balance sheet) from Nordea =
/ = 0.01 or 0.6%

ROA is an important ratio as it will tell you how effectively Nordea is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Nordea is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Nordea to the industry mean.
10.7% Return on Equity means Nordea generated kr0.11 for each kr1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Nordea Bank Abp:

The MRQ is 10.7%. Using its investors money, the company is less efficient in making profit.
The TTM is 10.7%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	10.7%	TTM	10.7%	0.0%
TTM	10.7%	YOY	11.4%	-0.7%
TTM	10.7%	5Y	8.6%	+2.1%
5Y	8.6%	10Y	8.7%	-0.1%

Shows how efficient Nordea is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Nordea to the industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Nordea is 10.7%. This means Nordea generated kr0.11 for each kr1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if Nordea existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Nordea

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Nordea =
Shareholders equity (balance sheet) MRQ Nordea =
/ = 0.11 or 10.7%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Nordea Bank Abp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Nordea is operating .

Measures how much profit Nordea makes for each kr1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Nordea to the industry mean.
An Operating Margin of 0.0% means the company generated kr0.00 for each kr1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Nordea Bank Abp:

The MRQ is 0.0%. The data is not here.

Trends

Current period		Compared to		+/-
MRQ	-	TTM	-	0.0%
TTM	-	YOY	-	0.0%
TTM	-	5Y	-	0.0%
5Y	-	10Y	-	0.0%

Measures how efficient Nordea is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Nordea to the industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Nordea is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Nordea is 0.0%. This means that Nordea earned kr0.00 for each kr1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Nordea

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Nordea =
Total revenue MRQ Nordea =
kr / kr = 0.00 or 0.0%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Nordea is keeping operating costs low.

Below 1 is considered healthy (always compare to industry mean).
An Operation Ratio of 0.00 means that the operating costs are kr0.00 for each kr1 in net sales.

Let's take a look of the Operating Ratio trends of Nordea Bank Abp:

The MRQ is 0.000. The data is not here.

Trends

Current period		Compared to
MRQ	-	TTM	-
TTM	-	YOY	-
TTM	-	5Y	-
5Y	-	10Y	-

Measures how efficient Nordea is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Nordea to the industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Nordea is 0.0%. This means that Nordea earned kr0.00 for each kr1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Nordea

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
( +) \ = 0.00

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Nordea Bank Abp.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Nordea is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to industry mean).
A Current Ratio of 0.21 means the company has kr0.21 in assets for each kr1 in short-term debts.

Let's take a look of the Current Ratio trends of Nordea Bank Abp:

The MRQ is 0.213. The company is unable to pay all its short-term debts. -2
The TTM is 0.213. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.213	TTM	0.213	0.000
TTM	0.213	YOY	0.183	+0.030
TTM	0.213	5Y	0.209	+0.004
5Y	0.209	10Y	0.174	+0.035

Measures if Nordea is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Nordea if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Nordea is 0.21. This means Nordea has kr0.21 in assets for each kr1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Nordea

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
93,613,000 \ 334,149,000) = 0.21

The current ratio measures if Nordea is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Nordea is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Nordea does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Nordea is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Nordea is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Nordea to the industry mean.
A Quick Ratio of 0.00 means the company can pay off kr0.00 for each kr1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Nordea Bank Abp:

The MRQ is 0.000. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.000. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.000	TTM	0.000	0.000
TTM	0.000	YOY	0.001	0.000
TTM	0.000	5Y	0.020	-0.020
5Y	0.020	10Y	0.017	+0.003

1.4. Solvency of Nordea Bank Abp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Nordea assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Nordea to industry mean.
A Debt to Asset Ratio of 0.94 means that Nordea assets are financed with 94.1% credit (debt) and the remaining percentage (100% - 94.1%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Nordea Bank Abp:

The MRQ is 0.941. The company is just able to pay all its debts by selling its assets.
The TTM is 0.941. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.941	TTM	0.941	0.000
TTM	0.941	YOY	0.941	0.000
TTM	0.941	5Y	0.941	+0.000
5Y	0.941	10Y	0.941	0.000

Measures how much % of Nordea assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Nordea than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Nordea to industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Nordea is 0.94. This means means that Nordea is financed with 94.1% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Nordea has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Nordea

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
\ = 94.1% or 0.94.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Nordea is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Nordea to the industry mean.
A Debt to Equity ratio of 1,602.9% means that company has kr16.03 debt for each kr1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Nordea Bank Abp:

The MRQ is 16.029. The company is unable to pay all its debts with equity. -1
The TTM is 16.029. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	16.029	TTM	16.029	0.000
TTM	16.029	YOY	16.029	0.000
TTM	16.029	5Y	15.962	+0.066
5Y	15.962	10Y	16.059	-0.097

Measures if Nordea is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Nordea is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Nordea is 16.03. This means that Nordea can pay off kr16.03 for each kr1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Nordea

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
\ = 16.03 or 1,602.9%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Nordea Bank Abp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every kr1 in earnings Nordea generates.

Above 15 is considered overpriced but always compare Nordea to the industry mean.
A PE ratio of 126.88 means the investor is paying kr126.88 for every kr1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Nordea Bank Abp:

The EOD is 140.342. Based on the earnings, the company is expensive. -2
The MRQ is 126.883. Based on the earnings, the company is expensive. -2
The TTM is 126.883. Based on the earnings, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	140.342	MRQ	126.883	+13.458
MRQ	126.883	TTM	126.883	0.000
TTM	126.883	YOY	117.464	+9.419
TTM	126.883	5Y	132.626	-5.742
5Y	132.626	10Y	110.521	+22.104

Measures how much money you pay for each share for every kr1 in earnings Nordea generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Nordea to the industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Nordea is 126.88. This means the investor is paying kr126.88 for every kr1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the industry is .
What is the trend?
The trend is important because it shows you how Nordea is performing over time. The most recent quarter might be important if Nordea released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Nordea up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Nordea

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
1,345,000 \ = EPS
PE ratio MRQ = 126.88

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Nordea Bank Abp:

The MRQ is 0.000. The data is not here.

Trends

Current period		Compared to
MRQ	-	TTM	-
TTM	-	YOY	-
TTM	-	5Y	-
5Y	-	10Y	-

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Nordea is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to industry mean).
A PB ratio of 13.55 means the investor is paying kr13.55 for each kr1 in book value.

Let's take a look of the Price to Book Ratio trends of Nordea Bank Abp:

The EOD is 14.984. Based on the equity, the company is expensive. -2
The MRQ is 13.547. Based on the equity, the company is expensive. -2
The TTM is 13.547. Based on the equity, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	14.984	MRQ	13.547	+1.437
MRQ	13.547	TTM	13.547	0.000
TTM	13.547	YOY	13.344	+0.203
TTM	13.547	5Y	10.747	+2.800
5Y	10.747	10Y	8.955	+1.791

2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Nordea Bank Abp compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	-	-	0%	-0.059	0%	0.017	-100%	1.383	-100%
Book Value Per Share	-	-	8.296	8.296	0%	8.296	0%	8.178	+1%	8.184	+1%
Current Ratio	-	-	0.213	0.213	0%	0.183	+16%	0.209	+2%	0.174	+22%
Debt To Asset Ratio	-	-	0.941	0.941	0%	0.941	0%	0.941	+0%	0.941	0%
Debt To Equity Ratio	-	-	16.029	16.029	0%	16.029	0%	15.962	+0%	16.059	0%
Dividend Per Share	-	-	0.664	0.664	0%	0.797	-17%	0.569	+17%	0.583	+14%
Eps	-	-	0.886	0.886	0%	0.942	-6%	0.704	+26%	0.712	+24%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Market Cap	501861238067.200	+10%	453734239211.520	453734239211.520	0%	446951239372.800	+2%	355380741550.080	+28%	296150617958.400	+53%
Net Profit Margin	-	-	-	-	0%	-	0%	-	0%	-	0%
Operating Margin	-	-	-	-	0%	-	0%	-	0%	-	0%
Operating Ratio	-	-	-	-	0%	-	0%	-	0%	-	0%
Pb Ratio	14.984	+10%	13.547	13.547	0%	13.344	+2%	10.747	+26%	8.955	+51%
Pe Ratio	140.342	+10%	126.883	126.883	0%	117.464	+8%	132.626	-4%	110.521	+15%
Price Per Share	124.300	+10%	112.380	112.380	0%	110.700	+2%	88.020	+28%	73.350	+53%
Price To Free Cash Flow Ratio	-	-	-	-	0%	-	0%	-	0%	-	0%
Price To Total Gains Ratio	187.192	+10%	169.241	169.241	0%	149.933	+13%	154.891	+9%	154.891	+9%
Quick Ratio	-	-	0.000	0.000	0%	0.001	-27%	0.020	-98%	0.017	-97%
Return On Assets	-	-	0.006	0.006	0%	0.007	-6%	0.005	+24%	0.005	+23%
Return On Equity	-	-	0.107	0.107	0%	0.114	-6%	0.086	+24%	0.087	+23%
Total Gains Per Share	-	-	0.664	0.664	0%	0.738	-10%	0.587	+13%	1.965	-66%
Usd Book Value	-	-	3054652800.000	3054652800.000	0%	3054652800.000	0%	3011460480.000	+1%	3013400000.000	+1%
Usd Book Value Change Per Share	-	-	-	-	0%	-0.005	0%	0.002	-100%	0.126	-100%
Usd Book Value Per Share	-	-	0.757	0.757	0%	0.757	0%	0.746	+1%	0.746	+1%
Usd Dividend Per Share	-	-	0.061	0.061	0%	0.073	-17%	0.052	+17%	0.053	+14%
Usd Eps	-	-	0.081	0.081	0%	0.086	-6%	0.064	+26%	0.065	+24%
Usd Free Cash Flow	-	-	-	-	0%	-	0%	-	0%	-	0%
Usd Market Cap	45769744911.729	+10%	41380562616.091	41380562616.091	0%	40761953030.799	+2%	32410723629.367	+28%	27008936357.806	+53%
Usd Price Per Share	11.336	+10%	10.249	10.249	0%	10.096	+2%	8.027	+28%	6.690	+53%
Usd Profit	-	-	328046400.000	328046400.000	0%	349387200.000	-6%	261105600.000	+26%	263659200.000	+24%
Usd Revenue	-	-	-	-	0%	-	0%	-	0%	-	0%
Usd Total Gains Per Share	-	-	0.061	0.061	0%	0.067	-10%	0.053	+13%	0.179	-66%
	EOD	+4 -3	MRQ	TTM	+0 -0	YOY	+5 -13	5Y	+18 -7	10Y	+17 -8

3.2. Fundamental Score

Let's check the fundamental score of Nordea Bank Abp based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	140.342
Price to Book Ratio (EOD)	Between	0-1	14.984
Net Profit Margin (MRQ)	Greater than	0	0.000
Operating Margin (MRQ)	Greater than	0	0.000
Quick Ratio (MRQ)	Greater than	1	0.000
Current Ratio (MRQ)	Greater than	1	0.213
Debt to Asset Ratio (MRQ)	Less than	1	0.941
Debt to Equity Ratio (MRQ)	Less than	1	16.029
Return on Equity (MRQ)	Greater than	0.15	0.107
Return on Assets (MRQ)	Greater than	0.05	0.006
Total			1/10 (10.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
Create your own Stock Scanner

3.3. Technical Score

Let's check the technical score of Nordea Bank Abp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	60.059
Ma 20	Greater than	Ma 50	122.030
Ma 50	Greater than	Ma 100	117.465
Ma 100	Greater than	Ma 200	115.767
Open	Greater than	Close	124.300
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Latest Balance Sheet

Balance Sheet of 2022-12-31. Currency in SEK. All numbers in thousands.

Summary

	As reported
Total Liabilities	-
Total Stockholder Equity	+ -
Total Assets	= -

Assets

Total Assets	-
Total Current Assets	90,082,000
Long-term Assets	-

Total Current Assets

Total Current Assets (as reported)	90,082,000
Net Receivables	211,000
Other Current Assets	2,467,000
Total Current Assets (calculated)	2,678,000
+/-	87,404,000

Long-term Assets

Long-term Assets (as reported)	0
Property Plant Equipment	1,673,000
Long-term Assets (calculated)	1,673,000
+/-	1,673,000

Liabilities & Shareholders' Equity

Total Current Liabilities	423,504,000
Long-term Liabilities	-
Total Stockholder Equity	-

Total Current Liabilities

Total Current Liabilities (as reported)	423,504,000
Accounts payable	288,574,000
Other Current Liabilities	15,022,000
Total Current Liabilities (calculated)	303,596,000
+/-	119,908,000

Long-term Liabilities

Long-term Liabilities (as reported)	0
Long-term Liabilities (calculated)	0
+/-	0

Total Stockholder Equity

Total Stockholder Equity (as reported)	0
Common Stock	4,050,000
Other Stockholders Equity	-154,000
Total Stockholder Equity (calculated)	3,896,000
+/-	3,896,000

Other

Net Tangible Assets	27,360,000

Balance Sheet

Currency in SEK. All numbers in thousands.

Trend

2022-12-31

2021-12-31

2020-12-31

2019-12-31

2018-12-31

2017-12-31

> Total Assets

581,612,000
551,408,000
554,848,000
552,160,000
570,353,000
0

570,353,000

552,160,000

554,848,000

551,408,000

581,612,000

> Total Current Assets

0
84,847,000
80,349,000
74,336,000
73,018,000
90,082,000

90,082,000

73,018,000

74,336,000

80,349,000

84,847,000

Net Receivables

0
13,277,000
11,706,000
11,839,000
272,000
211,000

211,000

272,000

11,839,000

11,706,000

13,277,000

Other Current Assets

0
596,000
1,110,000
1,132,000
1,571,000
2,467,000

2,467,000

1,571,000

1,132,000

1,110,000

596,000

> Long-term Assets

Property Plant Equipment

624,000
546,000
2,002,000
1,931,000
1,745,000
1,673,000

1,673,000

1,745,000

1,931,000

2,002,000

546,000

624,000

Goodwill

1,994,000
1,816,000
1,969,000
1,938,000
0
0

1,938,000

1,969,000

1,816,000

1,994,000

Intangible Assets

1,989,000
2,219,000
1,726,000
1,833,000
3,784,000
0

3,784,000

1,833,000

1,726,000

2,219,000

1,989,000

Earning Assets

188,856,000
176,337,000
177,032,000
174,255,000
128,879,000
0

128,879,000

174,255,000

177,032,000

176,337,000

188,856,000

> Total Liabilities

548,464,000
518,513,000
523,360,000
518,429,000
536,859,000
0

536,859,000

518,429,000

523,360,000

518,513,000

548,464,000

> Total Current Liabilities

0
368,559,000
363,040,000
376,098,000
399,718,000
423,504,000

423,504,000

399,718,000

376,098,000

363,040,000

368,559,000

Accounts payable

0
228,452,000
230,740,000
243,686,000
279,797,000
288,574,000

288,574,000

279,797,000

243,686,000

230,740,000

228,452,000

Other Current Liabilities

0
21,044,000
16,828,000
17,977,000
17,636,000
15,022,000

15,022,000

17,636,000

17,977,000

16,828,000

21,044,000

> Long-term Liabilities

Other Liabilities

0
22,456,000
23,356,000
22,082,000
20,987,000
29,451,000

29,451,000

20,987,000

22,082,000

23,356,000

22,456,000

> Total Stockholder Equity

33,148,000
32,895,000
31,488,000
33,731,000
33,494,000
0

33,494,000

33,731,000

31,488,000

32,895,000

33,148,000

Common Stock

4,050,000
4,050,000
4,050,000
4,050,000
4,050,000
4,050,000

4,050,000

Retained Earnings

29,891,000
28,891,000
27,672,000
29,937,000
29,405,000
27,508,000

27,508,000

29,405,000

29,937,000

27,672,000

28,891,000

29,891,000

Capital Surplus

Treasury Stock

Other Stockholders Equity

-896,000
-46,000
-234,000
-256,000
39,000
-154,000

-154,000

39,000

-256,000

-234,000

-46,000

-896,000

Balance Sheet

Currency in SEK. All numbers in thousands.

	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31
Accounts Payable	288,574,000	279,797,000	243,686,000	230,740,000	228,452,000	-
Common Stock	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000
Earning Assets	-	128,879,000	174,255,000	177,032,000	176,337,000	188,856,000
Good Will	-	-	1,938,000	1,969,000	1,816,000	1,994,000
Intangible Assets	-	3,784,000	1,833,000	1,726,000	2,219,000	1,989,000
Long Term Debt	-	182,511,000	119,145,000	135,837,000	127,492,000	122,228,000
Net Receivables	211,000	272,000	11,839,000	11,706,000	13,277,000	-
Net Tangible Assets	27,360,000	29,710,000	29,960,000	27,793,000	28,860,000	-
Other Assets	347,086,000	341,488,000	323,584,000	326,437,000	317,623,000	22,554,000
Other Current Assets	2,467,000	1,571,000	1,132,000	1,110,000	596,000	-
Other Current Liab	15,022,000	17,636,000	17,977,000	16,828,000	21,044,000	-
Other Liab	29,451,000	20,987,000	22,082,000	23,356,000	22,456,000	-
Other Stockholder Equity	-154,000	39,000	-256,000	-234,000	-46,000	-896,000
Property Plant Equipment	1,673,000	1,745,000	1,931,000	2,002,000	546,000	624,000
Retained Earnings	27,508,000	29,405,000	29,937,000	27,672,000	28,891,000	29,891,000
Short Long Term Debt Total	-	182,511,000	120,378,000	137,062,000	127,492,000	122,228,000
Total Assets	-	570,353,000	552,160,000	554,848,000	551,408,000	581,612,000
Total Current Assets	90,082,000	73,018,000	74,336,000	80,349,000	84,847,000	-
Total Current Liabilities	423,504,000	399,718,000	376,098,000	363,040,000	368,559,000	-
Total Liab	-	536,859,000	518,429,000	523,360,000	518,513,000	548,464,000
Total Stockholder Equity	-	33,494,000	33,731,000	31,488,000	32,895,000	33,148,000

	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Accounts Payable	298,853,000	-	297,999,000	288,574,000	311,020,000	301,996,000	313,271,000	279,797,000	283,327,000	268,992,000	-	-
Common Stock	4,050,000	-	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000	4,050,000
Common Stock Shares Outstanding	-	-	-	-	-	-	-	392,694	396,546	398,430	412,782	393,402
Earning Assets	-	-	-	-	-	-	-	128,879,000	164,555,000	167,913,000	131,612,000	174,255,000
Intangible Assets	-	-	-	-	-	-	-	3,784,000	3,812,000	3,807,000	3,817,000	3,771,000
Long Term Debt	-	-	-	-	-	-	-	182,511,000	197,657,000	189,271,000	189,400,000	181,250,000
Net Receivables	179,000	-	191,000	211,000	247,000	253,000	289,000	8,078,000	391,000	397,000	-	-
Net Tangible Assets	26,412,000	-	24,258,000	27,360,000	27,381,000	26,991,000	27,104,000	29,710,000	32,807,000	31,712,000	-	-
Other Assets	365,911,000	362,179,000	363,361,000	347,086,000	375,638,000	370,503,000	382,320,000	334,976,000	345,344,000	345,505,000	623,000	550,000
Other Current Assets	-	-	-	2,467,000	-	185,000	182,000	806,000	342,000	-	-	-
Other Current Liab	601,000	-	172,000	15,022,000	262,000	203,000	506,000	17,636,000	498,000	110,000	-	-
Other Liab	47,966,000	46,155,000	49,620,000	29,451,000	43,344,000	43,912,000	44,375,000	20,987,000	45,306,000	44,262,000	-	-
Other Stockholder Equity	-552,000	-	-553,000	-154,000	243,000	418,000	802,000	39,000	113,000	21,000	-48,000	-336,000
Property Plant Equipment	1,623,000	-	1,667,000	1,673,000	1,662,000	1,698,000	1,749,000	1,745,000	1,753,000	1,809,000	1,875,000	1,931,000
Retained Earnings	26,872,000	-	24,684,000	27,508,000	26,733,000	26,221,000	26,061,000	29,405,000	32,456,000	31,448,000	30,407,000	29,926,000
Short Long Term Debt Total	-	-	-	-	-	-	-	182,511,000	198,804,000	189,271,000	189,400,000	181,250,000
Total Assets	-	-	-	-	-	-	-	570,353,000	614,509,000	586,812,000	591,101,000	552,160,000
Total Current Assets	93,613,000	93,410,000	94,805,000	90,082,000	120,654,000	110,389,000	103,265,000	79,530,000	133,683,000	103,205,000	-	-
Total Current Liabilities	334,149,000	-	330,694,000	423,504,000	354,018,000	338,518,000	348,329,000	400,026,000	417,871,000	390,781,000	-	-
Total Liab	-	-	-	-	-	-	-	536,859,000	577,890,000	551,293,000	556,621,000	518,429,000
Total Stockholder Equity	-	-	-	-	-	-	-	33,494,000	36,619,000	35,519,000	34,480,000	33,731,000

Cash Flow

Currency in SEK. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31
Capital Expenditures	0	61,000	34,000	69,000	70,000	32,000	814,000
Change In Cash	-	14,249,000	12,425,000	-4,961,000	-4,845,000	-204,000	4,353,000
Change In Working Capital	-	-	10,393,000	-5,422,000	-8,927,000	-2,343,000	5,184,000
Change To Liabilities	-	0	0	0	0	0	-
Change To Netincome	-	-8,625,000	899,000	1,232,000	4,199,000	783,000	-
Change To Operating Activities	-	3,014,000	-11,740,000	-7,187,000	-1,686,000	-140,000	-
Depreciation	-	264,000	298,000	307,000	312,000	145,000	263,000
Dividends Paid	-	2,681,000	3,218,000	27,000	2,814,000	2,754,000	2,625,000
Investments	-	-19,000	2,000	10,000	853,000	9,000	-
Net Borrowings	-	-1,062,000	-577,000	-2,602,000	371,000	-28,000	-
Net Income	4,934,000	3,597,000	3,831,000	2,265,000	1,545,000	3,077,000	3,998,000
Other Cashflows From Financing Activities	-	24,446,000	25,366,000	2,437,000	-8,289,000	-6,083,000	750,000
Other Cashflows From Investing Activities	-	-	9,000	-523,000	396,000	669,000	-685,000
Sale Purchase Of Stock	-	-	-1,136,000	-17,000	29,000	-6,000	-12,000
Total Cash From Financing Activities	-	17,862,000	20,435,000	-209,000	-10,703,000	-8,871,000	-2,637,000
Total Cash From Operating Activities	-	-2,471,000	-7,774,000	-3,780,000	5,897,000	8,714,000	12,274,000
Total Cashflows From Investing Activities	-	-629,000	-380,000	-1,010,000	-191,000	29,000	-1,499,000

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Capital Expenditures	0	14,000	14,000	21,000	49,000	12,000	12,000	12,000	32,000	2,000	3,000	98,000	487,000
Change In Cash	-	-1,719,000	-1,719,000	1,379,000	-10,474,000	1,094,000	-14,000	23,643,000	-30,035,000	24,913,000	-4,350,000	21,897,000	-4,961,000
Change In Working Capital	-	-	-	-	-	-	-	-	10,393,000	38,943,000	15,402,000	21,175,000	-4,306,000
Change To Liabilities	-	0	0	0	0	0	0	0	0	0	0	-	-
Change To Netincome	-	-839,000	2,518,000	-2,575,000	-538,000	-2,331,000	-3,835,000	-1,921,000	1,878,000	-155,000	30,000	-	-
Change To Operating Activities	-	-2,587,000	-2,587,000	3,685,000	-31,430,000	2,837,000	5,763,000	25,844,000	-51,322,000	23,636,000	-5,605,000	-	-
Depreciation	-	153,000	148,000	148,000	-174,000	147,000	146,000	145,000	-154,000	167,000	134,000	-	-
Dividends Paid	-	-	-	26,000	26,000	-	2,655,000	26,000	2,909,000	2,909,000	2,909,000	283,000	-
Investments	-	-	-	-	-1,000	-2,000	-15,000	-1,000	3,000	-1,000	-1,000	-	-
Net Borrowings	-	-234,000	-234,000	-34,000	3,000	-1,002,000	-31,000	-32,000	-34,000	-80,000	319,000	-	-
Net Income	1,106,000	1,345,000	1,335,000	1,148,000	1,260,000	1,012,000	1,055,000	270,000	1,017,000	1,001,000	1,025,000	1,049,000	2,963,000
Other Cashflows From Financing Activities	-	-	-	-	24,446,000	-	-	-	25,366,000	25,366,000	25,366,000	-26,000	-27,000
Other Cashflows From Investing Activities	-	-	-	-	-	-	-	-	9,000	6,000	7,000	-	-523,000
Sale Purchase Of Stock	-	-	-	-	-	-	-	-	-1,136,000	6,000	3,000	9,000	-17,000
Total Cash From Financing Activities	-	-523,000	-523,000	-584,000	23,951,000	-1,515,000	-3,577,000	-997,000	21,281,000	-77,000	313,000	-1,082,000	-2,646,000
Total Cash From Operating Activities	-	-1,548,000	-1,548,000	2,590,000	-32,425,000	1,950,000	3,435,000	24,569,000	-50,748,000	24,649,000	-4,416,000	22,741,000	-1,343,000
Total Cashflows From Investing Activities	-	-120,000	-120,000	-134,000	-345,000	-92,000	-109,000	-83,000	-100,000	-98,000	-84,000	-98,000	-1,010,000

Income Statement

Currency in SEK. All numbers in thousands.

	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31
Income Before Tax	-	4,936,000	2,963,000	2,113,000	3,953,000	3,998,000
Income Tax Expense	1,173,000	1,105,000	698,000	571,000	872,000	-
Interest Expense	-	0	0	0	0	0
Net Income	-	3,831,000	2,265,000	1,545,000	3,077,000	3,031,000
Net Income Applicable To Common Shares	3,576,000	3,805,000	2,238,000	1,519,000	3,070,000	3,031,000
Net Interest Income	-	4,925,000	4,515,000	4,318,000	4,491,000	4,666,000
Other Operating Expenses	322,000	224,000	224,000	224,000	-	-
Tax Provision	-	1,105,000	698,000	571,000	872,000	950,000

	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31
Income Before Tax	-	-	-	-	-	-	-	1,281,000	1,268,000	1,338,000	1,049,000	973,000
Income Tax Expense	380,000	-	332,000	349,000	285,000	307,000	232,000	264,000	267,000	313,000	-	-
Net Income	-	-	-	-	-	-	-	1,017,000	1,001,000	1,025,000	788,000	725,000
Net Income Applicable To Common Shares	1,345,000	1,345,000	1,148,000	1,265,000	1,012,000	1,055,000	244,000	1,017,000	1,001,000	1,025,000	762,000	725,000
Net Interest Income	-	-	-	-	-	-	-	1,255,000	1,226,000	1,232,000	1,212,000	1,169,000
Other Operating Expenses	20,000	20,000	255,000	16,000	16,000	17,000	273,000	273,000	273,000	273,000	-	-
Tax Provision	-	-	-	-	-	-	-	264,000	267,000	313,000	261,000	248,000

Latest Income Statement (annual, 2022-12-31)

Gross Profit (+$)
totalRevenue	-
Cost of Revenue	--
Gross Profit	-	0

Operating Income (+$)
Gross Profit	-
Operating Expense	--
Operating Income	-	0

Operating Expense (+$)
Research Development	-
Selling General Administrative	-
Selling And Marketing Expenses	-
Operating Expense	-	0

Net Interest Income (+$)
Interest Income	-
Interest Expense	--
Other Finance Cost	-0
Net Interest Income	-

Pretax Income (+$)
Operating Income	-
Net Interest Income	-
Other Non-Operating Income Expenses	-
Income Before Tax (EBT)	-	0 EBIT - interestExpense = 0 1,173,000 0
Interest Expense	-
Earnings Before Interest and Taxes (EBIT)	-	0
Earnings Before Interest and Taxes (EBITDA)	-

After tax Income (+$)
Income Before Tax	-
Tax Provision	--
Net Income From Continuing Ops	-	0
Net Income	-
Net Income Applicable To Common Shares	3,576,000

Non-recurring Events
Discontinued Operations	-
Extraordinary Items	-
Effect of Accounting Charges	-
Other Items	-
Non Recurring	-
Other Operating Expenses	322,000
Total Other Income/Expenses Net	-	0

Technical Analysis of Nordea
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Nordea. The general trend of Nordea is BULLISH with 100.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Nordea's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (100.0%)		Bearish trend (-100.0%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Nordea Bank Abp.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 125.83.

The bearish price targets are: 120.94 > 120.37 > 118.70.

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Nordea Bank Abp Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Nordea Bank Abp. The current mas is .

The long score for the Moving Averages is 14/14.
The longshort score for the Moving Averages is 14/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close > MA 20: The price is above the MA 20. +1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Nordea Bank Abp Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Nordea Bank Abp. The current macd is 2.04021833.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Nordea price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Nordea. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Nordea price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Nordea Bank Abp Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Nordea Bank Abp. The current adx is 17.91.

The long score for the Directional Movement Index (DMI) is 2/7.
The longshort score for the Directional Movement Index (DMI) is 2/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Nordea shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bullish trend could be forming. +1

Nordea Bank Abp Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Nordea Bank Abp. The current sar is 125.29.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Nordea Bank Abp Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Nordea Bank Abp. The current rsi is 60.06. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Nordea Bank Abp Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Nordea Bank Abp. The current phase is Overbought in bull market.

The long score for the Stochastic Oscillator is 5/6.
The longshort score for the Stochastic Oscillator is 4/(-6 +6).

STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
STOCH > 80: The STOCH %K is above 80 and overbought. +2
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Nordea price going up in the near term. +2
Trending down: The STOCH %K is trending down. -1

Nordea Bank Abp Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Nordea Bank Abp. The current cci is 47.58.

Nordea Bank Abp Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Nordea Bank Abp. The current cmo is 17.08.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Nordea Bank Abp Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Nordea Bank Abp. The current willr is -14.11383619.

The long score for the Williams %R is 1/1.
The longshort score for the Williams %R is 1/(-1 +1).

WILLR > -20: The Williams %R is above -20. This indicates that the price is in overbought territory, suggesting a potential price correction or trend reversal to the downside. +1

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Nordea Bank Abp.

Nordea Bank Abp Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Nordea Bank Abp. The current atr is 4.27650662.

Nordea Bank Abp Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Nordea Bank Abp. The current obv is 64,854,450.

Nordea Bank Abp Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Nordea Bank Abp. The current mfi is 86.15.

The long score for the Money Flow Index (MFI) is 2/2.
The longshort score for the Money Flow Index (MFI) is 2/(-2 +2).

MFI > 50: +1
MFI > 80: +1

Nordea Bank Abp Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Nordea Bank Abp.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-11-28	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-11-29	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-11-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-11	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-14	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-15	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-20	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-28	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-04	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-01-09	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-01-10	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-01-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-22	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-25	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-26	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-30	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-01	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-02-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-07	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-13	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-19	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-21	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-02-22	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-02-28	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-05	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-07	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-11	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-12	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-18	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-03-21	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-22	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-26	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-28	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-02	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-04-03	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-04	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-04-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-04-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-09	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-04-10	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-18	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Nordea Bank Abp based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	60.059
Ma 20	Greater than	Ma 50	122.030
Ma 50	Greater than	Ma 100	117.465
Ma 100	Greater than	Ma 200	115.767
Open	Greater than	Close	124.300
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Quick analysis of Nordea (30 sec.)

What can you expect buying and holding a share of Nordea? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Nordea (5 min.)

kr124.30

kr8.30

2. Growth of Nordea (5 min.)

Is Nordea growing?

How much money is Nordea making?

How much money comes from the company's main activities?

3. Financial Health of Nordea (5 min.)

What can you expect buying and holding a share of Nordea? (5 min.)

What can you expect buying and holding a share of Nordea?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Nordea

About Nordea Bank Abp

Financial Health

Valuation

1.1. Profitability of Nordea Bank Abp.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of Nordea Bank Abp.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Nordea Bank Abp.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of Nordea Bank Abp.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of Nordea Bank Abp

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

Trends

Nordea Bank Abp
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