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← CockpitCompetitor Analysis › AVARDA.ST Avarda Bank ABOpen in the cockpit ↗

Avarda Bank ABAVARDA.STCompetitor analysis, valuation and peers

Sweden · SEK·Financials›Major Banks

Swedish fintech bank providing checkout financing and buy-now-pay-later payment solutions for e-commerce merchants.

≈ A Nordic Klarna-style BNPL/checkout finance bankMomentum leader 87
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$1.47B
US dollars, full cap
Free float
27%
of shares outstanding
$/day
$1.71M
20-day average traded
P/B
4.29×
price to book
ROE
25.9%
delivered
Implied ROE
23.7%
what the price asks
Next earnings
75 days
20 Jan 2027
Close · SEKSEK 222.00
1D-0.9%
1W+3.0%
1M+14.0%
3M+12.7%
6M+41.9%
YTD+35.6%
1Y+23.3%
ATR %2.9%
52w lowhigh2.4% off high

What Avarda Bank does

Swedish fintech bank providing checkout financing and buy-now-pay-later payment solutions for e-commerce merchants.

In one line: A Nordic Klarna-style BNPL/checkout finance bank.

Products and services

  • BNPL/installment checkout financing
  • Invoice/payment solutions for merchants

Customers

  • E-commerce merchants
  • Online shoppers (indirect)

Where it sits in the supply chain

  • Financials
  • Consumer fintech/banking
  • Buy-now-pay-later and checkout…

What could go right

  • E-commerce checkout-finance adoption
  • Merchant base expansion

What could go wrong

  • Consumer credit-risk/default exposure
  • Intense BNPL competition and regulatory scrutiny

Moat: none (scale, data). Competes in a crowded BNPL/checkout-finance space against much larger players like Klarna with limited differentiation.

Headquarters: Stockholm, Sweden · Founded: 2012 · Employees: 471

Named competitors

Avarda Bank at a glance

Size Avarda Bank (AVARDA.ST) is a Sweden Financials company (Major Banks) with a market value of $1.47B, the 105th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 222.00 on 6 Nov 2026.

Performance Over six months the shares gained 41.9%, against +6.2% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 20 in its peer set.

Growth Revenue grew 21.5% over the last twelve months (peer median +14.5%); the operating margin is 27.6% (peer median 27.8%).

Valuation It trades at 4.29× book value against a peer median of 0.96× (most expensive of 21).

Price implies The share price implies a return on equity of about 23.7%; Avarda Bank delivers 26.0%, so the price asks less than the business earns today.

Next results Next results expected around 20 Jan 2027 (exchange calendar; dates can move).

Relative performance

10012014011 May 202611 Aug 20266 Nov 2026AVARDA.ST 141Peer median 109
Six months, rebased to 100: Avarda Bank against the median of its 20 peers (local-currency closes).

Avarda Bank financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueSEK 4.63BSEK 3.93BSEK 3.46BSEK 2.65BSEK 1.68B
Revenue growth—+14%+31%+58%—
Net incomeSEK 807MSEK 641MSEK 603MSEK 377MSEK 328M
Free cash flowSEK 517MSEK 689MSEK 241MSEK 799MSEK 221M
Capital expenditureSEK 57.3MSEK 41.8MSEK 84.3MSEK 91.5MSEK 48.2M
Total debtSEK 646MSEK 714MSEK 663MSEK 651MSEK 422M

Quarterly statements and history in the cockpit →

Avarda Bank competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-25%0%+25%+50%-40%-20%0%+20%PSB8714ESQCASHSOUTHBANK8346QCRH9668HOPEINTROSBC1391308386NORION8360AMTB2845AVARDA.ST6-month return →1-month return →
Up and to the right = strong over both horizons. Avarda Bank is the large dot.

Fundamentals: return on equity against price-to-book

5%10%15%20%25%10×20×30×40×PSB8714ESQCASHSOUTHBANK8346QCRH9668INTROSBC139130FSUNNORIONAMTBAVARDA.STReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Avarda Bank is the large dot.

Capital: ROE delivered against the ROE the price implies

10%20%10%20%PSB8714ESQCASHSOUTHBANK8346QCRH9668INTRFSUN8386NORIONHAPNAMTB2845AVARDA.STROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Avarda Bank is the large dot.

Avarda Bank competitors and peer comparison

Head to head with its named competitors (AVARDA.ST vs KLAR vs PYPL)
CompanyMarket cap6M returnRevenue growthROEPrice / bookImplied ROE
Avarda Bank AVARDA.ST$1.47B+42%+22%26%4.29×23.7%
Klarna KLAR$5.13B-6%+34%-6%2.11×24.0%
PayPal PYPL$49.2B+31%+5%24%2.54×24.8%

How Avarda Bank compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Avarda Bank against its 20 peers (data as of 6 Nov 2026)
MeasureAVARDA.STPeer medianRank in peer set
1-month return+14.0%0.0%2nd highest of 21
6-month return+41.9%+6.2%2nd highest of 20
Return on equity25.9%7.9%highest of 21
Price / book4.29×0.96×most expensive of 21
Trailing P/E17.8×11.8×3rd most expensive of 20
ROE the price implies23.7%7.4%most demanding of 21
ROE delivered26.0%8.0%highest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Avarda Bank AVARDA.STSweden$1.47B+42%+22%26%4.29×23.7%26.0%
Punjab & Sind Bank PSB.NSIndia$1.52B-22%+3%11%0.99×14.8%10.7%
Senshu Ikeda Holdings,Inc 8714.TJapan$1.41B-14%+29%8%0.88×6.0%8.0%
Esquire Financial ESQUnited States$1.57B+21%+33%11%2.00×10.2%10.5%
Pathward Financial CASHUnited States$1.58B-12%-1%21%1.93×12.8%20.9%
South Indian Bank SOUTHBANK.NSIndia$1.60B+38%+5%14%1.25×18.3%13.9%
Toho Bank 8346.TJapan$1.32B+24%+30%7%0.92×7.2%6.6%
QCR QCRHUnited States$1.64B+11%+3%13%1.43×10.9%12.7%
CHINA BOHAI BANK 9668.HKHong Kong$1.67B-23%-5%6%0.10×3.4%5.5%
Hope Bancorp HOPEUnited States$1.68B+6%+7%6%0.75×7.6%5.9%
Inter & INTRUnited States$1.70B-40%+51%16%0.84×8.8%15.5%
Old Second Bancorp OSBCUnited States$1.24B+15%+22%13%1.37×10.9%12.8%
iM Financial 139130.KSSouth Korea$1.76B-20%+24%8%0.46×4.2%n/a
FirstSun Capital Bancorp FSUNUnited States$1.77B+5%+45%4%0.98×6.3%4.2%
Hyakujushi Bank 8386.TJapan$1.78B+4%+22%6%0.72×6.7%5.6%
Norion Bank NORION.STSweden$1.18B+33%-2%13%1.23×6.8%12.6%
Happen HAPNUnited States$1.84Bn/a+26%14%1.16×14.5%13.8%
Yamanashi Chuo Bank 8360.TJapan$1.16B+57%+30%5%0.72×5.7%5.0%
Amerant Bancorp AMTBUnited States$1.15B+26%-8%8%1.38×11.0%7.5%
Far Eastern International Bank 2845.TWTaiwan$1.88B+4%+5%7%0.87×3.2%7.4%
SpareBank 1 Nord-Norge NONG.OLNorway$1.96B+26%-4%8%0.93×6.6%7.7%

Questions

Who are Avarda Bank's main competitors?
Named competitors: Klarna Group (KLAR), Walley (private) (private or unlisted), PayPal (Pay in 4) (PYPL). The cockpit's measured peer set (industry) also includes Punjab & Sind Bank (PSB.NS), Senshu Ikeda Holdings,Inc (8714.T), Esquire Financial (ESQ), Pathward Financial (CASH), South Indian Bank (SOUTHBANK.NS), Toho Bank (8346.T).
Is Avarda Bank expensive compared with its peers?
On price / book it trades at 4.29× against a peer median of 0.96×, most expensive of 21 in its peer set. The share price implies a return on equity of about 23.7%; Avarda Bank delivers 26.0%, so the price asks less than the business earns today.
How has Avarda Bank stock performed?
Over six months to 6 Nov 2026 the shares returned +41.9% against +6.2% for the median peer; over one year +23.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.