Who are Avanza Bank's main competitors?

Named competitors: Nordnet (SAVE.ST), Swedbank (SWED-A.ST), SEB (SK.PA). The cockpit's measured peer set (industry) also includes SDIC Capital (600061.SS), Zheshang Securities (601878.SS), MarketAxess (MKTX), Changjiang Securities (000783.SZ), Soochow Securities (601555.SS), Zhongtai Securities (600918.SS).

Is Avanza Bank expensive compared with its peers?

On forward p/e it trades at 19.1× against a peer median of 10.3×, 5th most expensive of 20 in its peer set.

How has Avanza Bank stock performed?

Over six months to 6 Nov 2026 the shares returned +13.1% against -11.2% for the median peer; over one year +1.0%.

← CockpitCompetitor Analysis › AZA.ST Avanza Bank Holding ABOpen in the cockpit ↗

Avanza Bank Holding ABAZA.STCompetitor analysis, valuation and peers

Sweden · SEK·Financials›Investment Banks/Brokers

Swedish online brokerage and savings bank, the leading digital investment platform for Swedish retail savers.

≈ A Swedish Charles Schwab/Robinhood hybridMomentum neutral 42

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$5.95B

US dollars, full cap

Free float

73%

of shares outstanding

$/day

$13.3M

20-day average traded

Fwd P/E

19.1×

forward earnings

ROIC−WACC

n/a

WACC 8.2%

Hurdle

n/a

no reverse DCF

Next earnings

77 days

22 Jan 2027

Close · SEKSEK 368.50

1D+0.7%

1W+4.4%

1M-2.7%

3M-7.5%

6M+13.1%

YTD+4.4%

1Y+1.0%

ATR %2.5%

52w lowhigh9.9% off high

What Avanza Bank does

Swedish online brokerage and savings bank, the leading digital investment platform for Swedish retail savers.

Earns brokerage commissions on trades, interest on customers' cash savings, and fees on funds and pension products, so market activity and interest rates both matter. It competes mainly on low cost with the large Swedish banks, in a market where tax-advantaged savings accounts, known as ISK, are widespread.

In one line: A Swedish Charles Schwab/Robinhood hybrid.

Products and services

Online share trading
Savings/pension accounts (ISK)
Mortgage/lending products

Customers

Retail investors (Sweden)

Where it sits in the supply chain

Financials
Online brokerage/wealthtech
Trading, savings & pension accounts…

What could go right

Swedish retail investor account growth
Assets under management fee income

What could go wrong

Trading volume cyclicality (market sentiment)
Price competition from bank brokers

Moat: narrow (scale, switching costs, brand). Sweden's leading low-cost digital savings brand with strong customer loyalty and net inflows.

Headquarters: Stockholm, Sweden · Founded: 1999 · Employees: 722

Named competitors

Nordnet SAVE.ST
Swedbank SWED-A.ST
SEB SK.PA

Avanza Bank at a glance

Size Avanza Bank (AZA.ST) is a Sweden Financials company (Investment Banks/Brokers) with a market value of $5.95B, the 42nd largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 368.50 on 6 Nov 2026.

Performance Over six months the shares gained 13.1%, against -11.2% for the median peer and +8.2% for the Sweden market (cap-weighted) — 3rd highest of 21 in its peer set.

Growth Revenue grew 13.5% over the last twelve months (peer median +3.1%); the operating margin is 53.6% (peer median 34.8%).

Valuation It trades at 19.1× forward earnings against a peer median of 10.3× (5th most expensive of 20).

Next results Next results expected around 22 Jan 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Avanza Bank against the median of its 20 peers (local-currency closes).

Avanza Bank financials

Reported figures in SEK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	SEK 6.46B	SEK 5.74B	SEK 5.47B	SEK 4.71B	SEK 3.45B
Revenue growth	—	+5%	+16%	+37%	—
Gross profit	SEK 4.92B	SEK 4.40B	SEK 3.81B	SEK 3.35B	SEK 2.90B
EBITDA	SEK 3.57B	SEK 3.18B	SEK 2.71B	SEK 2.38B	SEK 2.03B
Net income	SEK 2.92B	SEK 2.61B	SEK 2.25B	SEK 1.98B	SEK 1.67B
Free cash flow	-SEK 19.3B	SEK 1.07B	SEK 3.17B	SEK 1.52B	SEK 5.54B
Capital expenditure	SEK 62.0M	SEK 74.0M	SEK 42.0M	SEK 24.0M	SEK 44.0M
Total debt	SEK 1.64B	SEK 1.16B	SEK 281M	SEK 92.0M	SEK 83.0M

Quarterly statements and history in the cockpit →

Avanza 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

Up and to the right = strong over both horizons. Avanza Bank is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Avanza Bank is the large dot.

Avanza Bank competitors and peer comparison

Head to head with its named competitors (AZA.ST vs SAVE.ST vs SWED-A.ST vs SK.PA)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Avanza Bank AZA.ST	$5.95B	+13%	+13%	54%	19.1×	n/a
Nordnet SAVE.ST	$8.70B	+13%	+11%	58%	23.7×	n/a
Swedbank SWED-A.ST	$46.0B	+25%	-5%	45%	14.5×	n/a
Seb SK.PA	$3.55B	+8%	-1%	8%	12.1×	-0.8%

How Avanza 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.

Avanza Bank against its 20 peers (data as of 6 Nov 2026)
Measure	AZA.ST	Peer median	Rank in peer set
1-month return	-2.7%	-4.9%	8th highest of 21
6-month return	+13.1%	-11.2%	3rd highest of 21
Distance from 52-week high	-9.9%	-34.4%	2nd highest of 21
Revenue growth (TTM)	+13.5%	+3.1%	8th highest of 21
Operating margin	53.6%	34.8%	3rd highest of 21
Forward P/E	19.1×	10.3×	5th most expensive of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Avanza Bank AZA.ST	Sweden	$5.95B	+13%	+13%	54%	19.1×	n/a	n/a
SDIC Capital 600061.SS	China	$5.96B	-7%	-28%	33%	12.0×	n/a	n/a
Zheshang Securities 601878.SS	China	$6.03B	-10%	-4%	32%	13.0×	n/a	n/a
MarketAxess MKTX	United States	$5.83B	+12%	+3%	39%	19.5×	n/a	n/a
Changjiang Securities 000783.SZ	China	$5.77B	-13%	+13%	37%	8.1×	n/a	n/a
Soochow Securities 601555.SS	China	$5.64B	-5%	+3%	36%	10.3×	n/a	n/a
Zhongtai Securities 600918.SS	China	$6.31B	-12%	-4%	21%	17.1×	n/a	n/a
Swissquote SQN.SW	Switzerland	$6.33B	-13%	+4%	44%	15.9×	n/a	n/a
NHIS 005940.KS	South Korea	$6.46B	-32%	+156%	34%	5.2×	n/a	n/a
StoneX SNEX	United States	$6.55B	-33%	+21%	2%	13.0×	n/a	n/a
Galaxy Digital GLXY	United States	$5.31B	-55%	+430%	1%	n/a	n/a	n/a
Allfunds ALLFG.AS	Netherlands	$6.69B	+18%	+1%	43%	20.5×	n/a	n/a
Guolian Minsheng Securities 1456.HK	Hong Kong	$6.70B	-29%	+14%	25%	6.8×	n/a	n/a
Guangzhou Yuexiu Capital 000987.SZ	China	$5.20B	-23%	-44%	11%	7.6×	n/a	n/a
Huaan Securities 600909.SS	China	$5.17B	+23%	-18%	121%	6.2×	n/a	n/a
KIH 071050.KS	South Korea	$5.15B	-49%	+100%	51%	2.4×	n/a	n/a
Tianfeng Securities 601162.SS	China	$4.91B	-9%	-20%	3%	65.0×	n/a	n/a
BGC BGC	United States	$4.89B	-8%	+28%	9%	7.1×	n/a	n/a
SamsungSecu 016360.KS	South Korea	$4.87B	-31%	+19%	71%	4.0×	n/a	n/a
Investec INVP.L	United Kingdom	$7.34B	+3%	-4%	37%	7.1×	n/a	n/a
Hongta Securities 601236.SS	China	$4.72B	-11%	-4%	39%	26.8×	n/a	n/a

Questions

Who are Avanza Bank's main competitors?: Named competitors: Nordnet (SAVE.ST), Swedbank (SWED-A.ST), SEB (SK.PA). The cockpit's measured peer set (industry) also includes SDIC Capital (600061.SS), Zheshang Securities (601878.SS), MarketAxess (MKTX), Changjiang Securities (000783.SZ), Soochow Securities (601555.SS), Zhongtai Securities (600918.SS).
Is Avanza Bank expensive compared with its peers?: On forward p/e it trades at 19.1× against a peer median of 10.3×, 5th most expensive of 20 in its peer set.
How has Avanza Bank stock performed?: Over six months to 6 Nov 2026 the shares returned +13.1% against -11.2% for the median peer; over one year +1.0%.