contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


nordea-major-discrepancy-between-price-and-value

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Matias Arola

Nordea is a banking company. The company offers a range of financial services, aimed at both private and corporate customers, including traditional asset management, loan financing and pension savings. In addition, it also offers advice and security insurance, as well as currency management. Nordea has the largest operations in the Nordic and Baltic countries. The company was founded in 1997 and its headquarters are located in Helsinki.

This has been discussed at great length in another thread. Generally speaking, share buybacks are more tax-efficient even in the case where the increased ownership stake from the buybacks is immediately sold for cash to effectively “create your own dividends.” And it’s even more beneficial if you would have reinvested those dividends back into Nordea anyway. Taxation through buybacks + sales is always lighter than dividend taxation because a large portion of the generated cash is received tax-free + HMO (Acquisition Cost Assumption). That is, 0 - 24% < 25.5%. This applies to a book-entry account (AOT). And about 90% of investors calculate this incorrectly, probably even now as I’m writing this out again. This has nothing to do with integrity. It’s good that Nordea is buying back its shares and taking shareholder taxation into account, and they will surely continue to do so on a large scale. We all benefit from it continuously.

This post was flagged by the community and is temporarily hidden.

That is my guess for restructuring costs. At the CMD, Nordea commented that they expect these to be lower than in 2019, when ~200 MEUR were recorded.

I glanced through Inderes’ new Nordea company report. @Kasper_Mellas, I was wondering what the 2026e non-recurring expenses of -140 MEUR are due to?

@Kasper_Mellas dropped an earnings preview👏 Among other things: the ‘add’ recommendation changed to ‘reduce’. The target price rose from 15 euros to 17.5 euros. This year, earnings would remain flat and start rising next year. Profit distribution is generous. It’s certainly a pleasure to own this!                   Inderes              Nordea Q4'25 -ennakko: Kurssinousu on nostanut riman korkealle - Inderes    Odotamme Nordealta vakaata tuloskehitystä Q4:llä. Tulosraportin alla olemme kuitenkin nostaneet lähivuosien tulosennusteitamme huomioimaan lainakannan parantuneen kasvunäkymän.

Oh, looks like I was still logged in. Well, I might as well write something then  A quick glance at my own spreadsheets shows that compared to five years ago, net profit has grown by about half, while the share price has doubled. One can then consider how much of that is due to improved future expectations and how much is the result of share buybacks.

What would Nordea’s share price be if the number of shares were the same as before the 2009 rights issue and the stock were valued at the same multiples as today?

Nordea Bank

Nordea has achieved a convincing performance turnaround in recent years and its profitability has risen close to its peers. The company is currently performing strongly and although we expect...

<p>Nordea has achieved a convincing performance turnaround in recent years and its profitability has risen close to its peers. The company is currently performing strongly and although we expect the earnings peak to be close, profitability remains strong in our estimates over the next few years as well. There is no doubt that the operating environment is currently subject to uncertainty, but we believe the valuation of the company (2023e: P/E 7.1x and P/B 1.1x) gives an unreasonably pessimistic picture of the earnings outlook for the coming years. </p> 

	2022	23e	24e
Operating income	9,721.0	11,770.1	11,910.2
growth-%	1.0 %	21.1 %	1.2 %
EBIT (adj.)	5,299.0	6,356.3	6,198.9
EBIT-% (adj.)	54.5 %	54.0 %	52.0 %
EPS (adj.)	1.11	1.37	1.39
Dividend	0.80	0.92	0.97
Dividend %	8.0 %	5.5 %	5.8 %
P/E (adj.)	9.0	12.2	12.1
EV/EBITDA	7.7	9.2	9.2

Nordea: A major discrepancy between price and value

Key Estimate Figures11.06.2023

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