Valuation Result

Final Brand Value

SBAB — Banks

Valuation date: 10/29/2026

Total Brand Value

SEK 1.6B

This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.

Brand Strength

76/100

Royalty Rate

2.7%

Discount Rate

9.0%

Benchmark recommendation not unlocked for this result

Sensitivity snapshot

Quick decision check for discount rate, royalty rate and long-term growth.

Variable

Lower input

Current

Higher input

WACC (Discount Rate)

9.0%

-1.0%

SEK 1.9B

9.0%

SEK 1.6B

+1.0%

SEK 1.5B

Royalty Rate

2.7%

-0.5%

SEK 1.3B

2.7%

SEK 1.6B

+0.5%

SEK 1.9B

Terminal Growth

1.5%

-0.5%

SEK 1.6B

1.5%

SEK 1.6B

+0.5%

SEK 1.7B

Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.

Revenue Base

SEK 5.2B

Legal Protection

79/100

Long-term Growth

1.5%

Recommendation basis

Brand-strength range • Pro

This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.

This valuation uses benchmark support informed by external market references and curated internal calibration.

Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.

Forecast profile

5 years explicit forecast

High growth: 3.0%

Base growth: 2.0%

Long-term growth: 1.5%

Value build

Value for planning period: SEK 485.5M

Terminal value: SEK 1.2B

How the valuation is built

Valuation Build

Royalty Relief DCF

Year	Revenue	Royalty	After Tax	PV
Y1	SEK 5,386,900,000	SEK 143,291,540	SEK 113,773,483	SEK 108,975,242
Y2	SEK 5,548,507,000	SEK 147,590,286	SEK 117,186,687	SEK 102,976,624
Y3	SEK 5,714,962,210	SEK 152,017,995	SEK 120,702,288	SEK 97,308,204
Y4	SEK 5,829,261,454	SEK 155,058,355	SEK 123,116,334	SEK 91,059,070
Y5	SEK 5,945,846,683	SEK 158,159,522	SEK 125,578,660	SEK 85,211,255
Explicit PV (Y1–Y5)				SEK 485,530,395
Terminal Value (undiscounted)				SEK 1,699,502,401
Terminal PV (discounted)				SEK 1,153,195,397
Total Brand Value				SEK 1,638,725,793

Supporting context

This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.

Reference case

SBAB

Prepared reference case

Indicative outside-in valuation of the customer-facing SBAB mortgage, savings and housing-finance franchise. It excludes the mortgage book, customer deposits, covered bonds, Booli, Hittamäklare, credit decisions, funding economics, the Swedish State ownership interest and the equity value of the group.

Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.

Key inputs

Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice

Revenue base

SEK 5.230bnreported

Planning growth

3.00% for 3 years, then 2.00%estimated

Long-term growth

1.50%estimated

Royalty rate selected

2.66%estimated

Discount rate

9.00%estimated

Brand Strength

76/100 (B+)estimated

Legal analysis

79/100estimated

Company disclosures

These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.

SBAB Annual Report 2025 SBAB interim and financial reports

Legal Protection

trademark Status82

scope Of Rights82

risk Profile78

litigation78

contractual Rights76

goodwill Evidence82

regulatory Compliance75

Brand Strength

marketing Investment72

quality82

availability80

distinctive Brand Codes73

mental Availability80

consideration80

trust84

choice Share76

penetration74

price Elasticity64

revenue Premium72

margin Premium70

stability76