04Q Fundamental Analysis - NORDEA BANK ABP

Fundamental Rating

Taking everything into account, 04Q scores 3 out of 10 in our fundamental rating. 04Q was compared to 96 industry peers in the Banks industry. There are concerns on the financial health of 04Q while its profitability can be described as average. 04Q is valued correctly, but it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

In the past year 04Q was profitable.

In the past year 04Q had a positive cash flow from operations.

Each year in the past 5 years 04Q has been profitable.

The reported operating cash flow has been mixed in the past 5 years: 04Q reported negative operating cash flow in multiple years.

1.2 Ratios

04Q's Return On Assets of 0.76% is in line compared to the rest of the industry. 04Q outperforms 55.21% of its industry peers.

The Return On Equity of 04Q (15.89%) is better than 84.38% of its industry peers.

		Industry Rank	Sector Rank
ROA	0.76%
ROE	15.89%
ROIC	N/A

ROA(3y)0.75%

ROA(5y)0.66%

ROE(3y)14.26%

ROE(5y)12.16%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

Looking at the Profit Margin, with a value of 37.71%, 04Q belongs to the top of the industry, outperforming 88.54% of the companies in the same industry.

04Q's Profit Margin has improved in the last couple of years.

The Operating Margin and Gross Margin are not available for 04Q so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	37.71%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y2.57%

PM growth 5Y19.5%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

04Q does not have a ROIC to compare to the WACC, probably because it is not profitable.

04Q has less shares outstanding than it did 1 year ago.

The number of shares outstanding for 04Q has been reduced compared to 5 years ago.

Compared to 1 year ago, 04Q has about the same debt to assets ratio.

2.2 Solvency

The Debt to FCF ratio of 04Q is 38.74, which is on the high side as it means it would take 04Q, 38.74 years of fcf income to pay off all of its debts.

With a decent Debt to FCF ratio value of 38.74, 04Q is doing good in the industry, outperforming 70.83% of the companies in the same industry.

04Q has a Debt/Equity ratio of 6.64. This is a high value indicating a heavy dependency on external financing.

The Debt to Equity ratio of 04Q (6.64) is worse than 88.54% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	6.64
Debt/FCF	38.74
Altman-Z	N/A

ROIC/WACCN/A

WACC6.5%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for 04Q have decreased by -4.17% in the last year.

04Q shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 19.37% yearly.

04Q shows a decrease in Revenue. In the last year, the revenue decreased by -0.72%.

Measured over the past years, 04Q shows a small growth in Revenue. The Revenue has been growing by 6.34% on average per year.

EPS 1Y (TTM)-4.17%

EPS 3Y14.61%

EPS 5Y19.37%

EPS Q2Q%-5.41%

Revenue 1Y (TTM)-0.72%

Revenue growth 3Y7.03%

Revenue growth 5Y6.34%

Sales Q2Q%-3.93%

3.2 Future

The Earnings Per Share is expected to decrease by -4.84% on average over the next years.

04Q is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.21% yearly.

EPS Next Y-8.63%

EPS Next 2Y-4.1%

EPS Next 3Y-1.07%

EPS Next 5Y-4.84%

Revenue Next Year-2.88%

Revenue Next 2Y-0.81%

Revenue Next 3Y0.6%

Revenue Next 5Y0.21%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 9.67, which indicates a very decent valuation of 04Q.

04Q's Price/Earnings ratio is in line with the industry average.

The average S&P500 Price/Earnings ratio is at 27.06. 04Q is valued rather cheaply when compared to this.

A Price/Forward Earnings ratio of 10.15 indicates a reasonable valuation of 04Q.

Compared to the rest of the industry, the Price/Forward Earnings ratio of 04Q is on the same level as its industry peers.

04Q's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.69.

		Industry Rank	Sector Rank
PE	9.67
Fwd PE	10.15

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of 04Q indicates a somewhat cheap valuation: 04Q is cheaper than 76.04% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	8.87
EV/EBITDA	N/A

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)0.5

EPS Next 2Y-4.1%

EPS Next 3Y-1.07%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.76%, 04Q is a good candidate for dividend investing.

04Q's Dividend Yield is rather good when compared to the industry average which is at 5.12. 04Q pays more dividend than 91.67% of the companies in the same industry.

04Q's Dividend Yield is rather good when compared to the S&P500 average which is at 2.41.

		Industry Rank	Sector Rank
Dividend Yield	7.76%

5.2 History

The dividend of 04Q has a limited annual growth rate of 5.87%.

Dividend Growth(5Y)5.87%

Div Incr Years3

Div Non Decr Years3

5.3 Sustainability

67.74% of the earnings are spent on dividend by 04Q. This is not a sustainable payout ratio.

The Dividend Rate of 04Q has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.

DP67.74%

EPS Next 2Y-4.1%

EPS Next 3Y-1.07%

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NORDEA BANK ABP

FRA:04Q (9/5/2025, 7:00:00 PM)

13.345

-0.01 (-0.07%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-17 2025-07-17/bmo

Earnings (Next)10-16 2025-10-16

Inst Owners52.06%

Inst Owner ChangeN/A

Ins Owners0.03%

Ins Owner ChangeN/A

Market Cap46.14B

Analysts77.33

Price Target14.27 (6.93%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	7.76%

Yearly Dividend0.92

Dividend Growth(5Y)5.87%

DP67.74%

Div Incr Years3

Div Non Decr Years3

Ex-DateN/A

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)5.02%

Min EPS beat(2)3.42%

Max EPS beat(2)6.63%

EPS beat(4)3

Avg EPS beat(4)2.87%

Min EPS beat(4)-0.78%

Max EPS beat(4)6.63%

EPS beat(8)6

Avg EPS beat(8)1.86%

EPS beat(12)10

Avg EPS beat(12)4.21%

EPS beat(16)13

Avg EPS beat(16)0.64%

Revenue beat(2)1

Avg Revenue beat(2)-0.81%

Min Revenue beat(2)-2.02%

Max Revenue beat(2)0.41%

Revenue beat(4)2

Avg Revenue beat(4)-0.57%

Min Revenue beat(4)-2.02%

Max Revenue beat(4)0.41%

Revenue beat(8)3

Avg Revenue beat(8)-0.9%

Revenue beat(12)N/A

Avg Revenue beat(12)N/A

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)1.79%

PT rev (3m)4.07%

EPS NQ rev (1m)0%

EPS NQ rev (3m)-0.67%

EPS NY rev (1m)-3.51%

EPS NY rev (3m)-3.51%

Revenue NQ rev (1m)-0.03%

Revenue NQ rev (3m)-0.95%

Revenue NY rev (1m)-0.06%

Revenue NY rev (3m)-0.1%

Valuation

		Industry Rank	Sector Rank
PE	9.67
Fwd PE	10.15
P/S	3.61
P/FCF	8.87
P/OCF	8.69
P/B	1.52
P/tB	1.75
EV/EBITDA	N/A

EPS(TTM)1.38

EY10.34%

EPS(NY)1.32

Fwd EY9.85%

FCF(TTM)1.51

FCFY11.28%

OCF(TTM)1.54

OCFY11.51%

SpS3.7

BVpS8.78

TBVpS7.62

PEG (NY)N/A

PEG (5Y)0.5

Profitability

		Industry Rank	Sector Rank
ROA	0.76%
ROE	15.89%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	37.71%
GM	N/A
FCFM	40.69%

ROA(3y)0.75%

ROA(5y)0.66%

ROE(3y)14.26%

ROE(5y)12.16%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y2.57%

PM growth 5Y19.5%

GM growth 3YN/A

GM growth 5YN/A

F-Score5

Asset Turnover0.02

Health

		Industry Rank	Sector Rank
Debt/Equity	6.64
Debt/FCF	38.74
Debt/EBITDA	N/A
Cap/Depr	18.51%
Cap/Sales	0.81%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	107.9%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC6.5%

ROIC/WACCN/A

Cap/Depr(3y)13.57%

Cap/Depr(5y)39.58%

Cap/Sales(3y)0.65%

Cap/Sales(5y)2.22%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-4.17%

EPS 3Y14.61%

EPS 5Y19.37%

EPS Q2Q%-5.41%

EPS Next Y-8.63%

EPS Next 2Y-4.1%

EPS Next 3Y-1.07%

EPS Next 5Y-4.84%

Revenue 1Y (TTM)-0.72%

Revenue growth 3Y7.03%

Revenue growth 5Y6.34%

Sales Q2Q%-3.93%

Revenue Next Year-2.88%

Revenue Next 2Y-0.81%

Revenue Next 3Y0.6%

Revenue Next 5Y0.21%

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year-9.41%

EBIT Next 3Y-2.57%

EBIT Next 5YN/A

FCF growth 1Y112.43%

FCF growth 3Y-63.8%

FCF growth 5YN/A

OCF growth 1Y114%

OCF growth 3Y-62.79%

OCF growth 5YN/A

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

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

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2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

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3. Growth

3.1 Past

3.2 Future

3.3 Evolution

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4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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