DNB Fundamental Analysis - DNB BANK ASA

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to DNB. DNB was compared to 97 industry peers in the Banks industry. While DNB is still in line with the averages on profitability rating, there are concerns on its financial health. DNB is not valued too expensively and it also shows a decent growth rate. DNB also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

DNB had positive earnings in the past year.

In the past year DNB has reported a negative cash flow from operations.

In the past 5 years DNB has always been profitable.

Of the past 5 years DNB 4 years had a positive operating cash flow.

1.2 Ratios

Looking at the Return On Assets, with a value of 1.15%, DNB belongs to the top of the industry, outperforming 81.44% of the companies in the same industry.

Looking at the Return On Equity, with a value of 16.05%, DNB belongs to the top of the industry, outperforming 85.57% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	1.15%
ROE	16.05%
ROIC	N/A

ROA(3y)1.11%

ROA(5y)0.96%

ROE(3y)14.24%

ROE(5y)12.06%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

DNB has a better Profit Margin (47.37%) than 96.91% of its industry peers.

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

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

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	47.37%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y5.83%

PM growth 5Y2.81%

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

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

Compared to 1 year ago, DNB has less shares outstanding

Compared to 5 years ago, DNB has less shares outstanding

Compared to 1 year ago, DNB has a worse debt to assets ratio.

2.2 Solvency

DNB has a Debt/Equity ratio of 3.75. This is a high value indicating a heavy dependency on external financing.

DNB's Debt to Equity ratio of 3.75 is on the low side compared to the rest of the industry. DNB is outperformed by 79.38% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	3.75
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC9.83%

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 has grown by an nice 11.07% over the past year.

The Earnings Per Share has been growing by 12.47% on average over the past years. This is quite good.

The Revenue has been growing slightly by 7.72% in the past year.

DNB shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.20% yearly.

EPS 1Y (TTM)11.07%

EPS 3Y21.67%

EPS 5Y12.47%

EPS Q2Q%-0.73%

Revenue 1Y (TTM)7.72%

Revenue growth 3Y14.89%

Revenue growth 5Y9.2%

Sales Q2Q%4.26%

3.2 Future

Based on estimates for the next years, DNB will show a decrease in Earnings Per Share. The EPS will decrease by -2.76% on average per year.

Based on estimates for the next years, DNB will show a small growth in Revenue. The Revenue will grow by 1.36% on average per year.

EPS Next Y-4.5%

EPS Next 2Y-4.9%

EPS Next 3Y-2.76%

EPS Next 5YN/A

Revenue Next Year3.63%

Revenue Next 2Y1.86%

Revenue Next 3Y1.36%

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 9.03, which indicates a very decent valuation of DNB.

73.20% of the companies in the same industry are more expensive than DNB, based on the Price/Earnings ratio.

Compared to an average S&P500 Price/Earnings ratio of 27.86, DNB is valued rather cheaply.

The Price/Forward Earnings ratio is 10.16, which indicates a very decent valuation of DNB.

DNB's Price/Forward Earnings ratio is in line with the industry average.

DNB's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.32.

		Industry Rank	Sector Rank
PE	9.03
Fwd PE	10.16

4.2 Price Multiples

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

4.3 Compensation for Growth

A cheap valuation may be justified as DNB's earnings are expected to decrease with -2.76% in the coming years.

PEG (NY)N/A

PEG (5Y)0.72

EPS Next 2Y-4.9%

EPS Next 3Y-2.76%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.26%, DNB is a good candidate for dividend investing.

Compared to an average industry Dividend Yield of 5.02, DNB pays a bit more dividend than its industry peers.

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

		Industry Rank	Sector Rank
Dividend Yield	6.26%

5.2 History

On average, the dividend of DNB grows each year by 17.85%, which is quite nice.

Dividend Growth(5Y)17.85%

Div Incr Years0

Div Non Decr Years0

5.3 Sustainability

DNB pays out 56.07% of its income as dividend. This is a bit on the high side, but may be sustainable.

DNB's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.

DP56.07%

EPS Next 2Y-4.9%

EPS Next 3Y-2.76%

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DNB BANK ASA

OSL:DNB (10/3/2025, 7:00:00 PM)

269.8

+1.4 (+0.52%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-11 2025-07-11/bmo

Earnings (Next)10-22 2025-10-22

Inst Owners43.3%

Inst Owner ChangeN/A

Ins Owners0.02%

Ins Owner ChangeN/A

Market Cap398.66B

Analysts54.62

Price Target271.96 (0.8%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	6.26%

Yearly Dividend16.1

Dividend Growth(5Y)17.85%

DP56.07%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)0.3%

Min EPS beat(2)-5.48%

Max EPS beat(2)6.08%

EPS beat(4)3

Avg EPS beat(4)10.46%

Min EPS beat(4)-5.48%

Max EPS beat(4)23.22%

EPS beat(8)7

Avg EPS beat(8)9.5%

EPS beat(12)10

Avg EPS beat(12)11.17%

EPS beat(16)14

Avg EPS beat(16)10.23%

Revenue beat(2)1

Avg Revenue beat(2)-0.5%

Min Revenue beat(2)-2.44%

Max Revenue beat(2)1.45%

Revenue beat(4)3

Avg Revenue beat(4)2.04%

Min Revenue beat(4)-2.44%

Max Revenue beat(4)7.96%

Revenue beat(8)5

Avg Revenue beat(8)1.18%

Revenue beat(12)8

Avg Revenue beat(12)3.02%

Revenue beat(16)12

Avg Revenue beat(16)4.69%

PT rev (1m)0.61%

PT rev (3m)1.06%

EPS NQ rev (1m)-0.05%

EPS NQ rev (3m)6.9%

EPS NY rev (1m)-0.24%

EPS NY rev (3m)1.58%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)3.66%

Revenue NY rev (1m)-0.4%

Revenue NY rev (3m)-0.43%

Valuation

		Industry Rank	Sector Rank
PE	9.03
Fwd PE	10.16
P/S	4.26
P/FCF	N/A
P/OCF	N/A
P/B	1.44
P/tB	1.57
EV/EBITDA	N/A

EPS(TTM)29.88

EY11.07%

EPS(NY)26.55

Fwd EY9.84%

FCF(TTM)-32.14

FCFYN/A

OCF(TTM)-30.44

OCFYN/A

SpS63.28

BVpS186.75

TBVpS171.71

PEG (NY)N/A

PEG (5Y)0.72

Profitability

		Industry Rank	Sector Rank
ROA	1.15%
ROE	16.05%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	47.37%
GM	N/A
FCFM	N/A

ROA(3y)1.11%

ROA(5y)0.96%

ROE(3y)14.24%

ROE(5y)12.06%

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 3Y5.83%

PM growth 5Y2.81%

GM growth 3YN/A

GM growth 5YN/A

F-Score5

Asset Turnover0.02

Health

		Industry Rank	Sector Rank
Debt/Equity	3.75
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	N/A
Cap/Sales	2.68%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC9.83%

ROIC/WACCN/A

Cap/Depr(3y)N/A

Cap/Depr(5y)N/A

Cap/Sales(3y)4.03%

Cap/Sales(5y)5.12%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)11.07%

EPS 3Y21.67%

EPS 5Y12.47%

EPS Q2Q%-0.73%

EPS Next Y-4.5%

EPS Next 2Y-4.9%

EPS Next 3Y-2.76%

EPS Next 5YN/A

Revenue 1Y (TTM)7.72%

Revenue growth 3Y14.89%

Revenue growth 5Y9.2%

Sales Q2Q%4.26%

Revenue Next Year3.63%

Revenue Next 2Y1.86%

Revenue Next 3Y1.36%

Revenue Next 5YN/A

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y-135.81%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-133.02%

OCF growth 3YN/A

OCF growth 5YN/A

DNB BANK ASA (DNB.OL) 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

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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