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DNB BANK ASA (DNB.OL) Stock Fundamental Analysis

Europe - OSL:DNB - NO0010161896 - Common Stock

262 NOK
+2.7 (+1.04%)
Last: 10/27/2025, 4:25:15 PM
Fundamental Rating

3

Overall DNB gets a fundamental rating of 3 out of 10. We evaluated DNB against 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.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year DNB was profitable.
In the past year DNB has reported a negative cash flow from operations.
DNB had positive earnings in each of the past 5 years.
DNB had a positive operating cash flow in 4 of the past 5 years.
DNB.OL Yearly Net Income VS EBIT VS OCF VS FCFDNB.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100B -100B 200B

1.2 Ratios

Looking at the Return On Assets, with a value of 1.13%, DNB is in the better half of the industry, outperforming 74.23% of the companies in the same industry.
DNB's Return On Equity of 15.15% is amongst the best of the industry. DNB outperforms 82.47% of its industry peers.
Industry RankSector Rank
ROA 1.13%
ROE 15.15%
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
DNB.OL Yearly ROA, ROE, ROICDNB.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

With an excellent Profit Margin value of 45.71%, DNB belongs to the best of the industry, outperforming 96.91% of the companies in the same industry.
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 RankSector Rank
OM N/A
PM (TTM) 45.71%
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
DNB.OL Yearly Profit, Operating, Gross MarginsDNB.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

1

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
The number of shares outstanding for DNB has been reduced compared to 5 years ago.
The debt/assets ratio for DNB is higher compared to a year ago.
DNB.OL Yearly Shares OutstandingDNB.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
DNB.OL Yearly Total Debt VS Total AssetsDNB.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1T 2T 3T

2.2 Solvency

DNB has a Debt/Equity ratio of 3.43. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of DNB (3.43) is worse than 77.32% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.43
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC9.94%
DNB.OL Yearly LT Debt VS Equity VS FCFDNB.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200B 400B 600B 800B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
DNB.OL Yearly Current Assets VS Current LiabilitesDNB.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

4

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 4.33% 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 5.91% 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)4.33%
EPS 3Y21.67%
EPS 5Y12.47%
EPS Q2Q%-11.82%
Revenue 1Y (TTM)5.91%
Revenue growth 3Y14.89%
Revenue growth 5Y9.2%
Sales Q2Q%-1.22%

3.2 Future

The Earnings Per Share is expected to decrease by -2.34% on average over the next years.
The Revenue is expected to grow by 2.29% on average over the next years.
EPS Next Y-4.25%
EPS Next 2Y-4.54%
EPS Next 3Y-2.34%
EPS Next 5YN/A
Revenue Next Year4.46%
Revenue Next 2Y2.49%
Revenue Next 3Y2.29%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
DNB.OL Yearly Revenue VS EstimatesDNB.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20B 40B 60B 80B
DNB.OL Yearly EPS VS EstimatesDNB.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5 10 15 20 25

4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 9.05, which indicates a very decent valuation of DNB.
Based on the Price/Earnings ratio, DNB is valued a bit cheaper than 73.20% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.89, DNB is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 9.79, the valuation of DNB can be described as reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of DNB is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 22.99. DNB is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.05
Fwd PE 9.79
DNB.OL Price Earnings VS Forward Price EarningsDNB.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
DNB.OL Per share dataDNB.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 -100 -200

4.3 Compensation for Growth

A cheap valuation may be justified as DNB's earnings are expected to decrease with -2.34% in the coming years.
PEG (NY)N/A
PEG (5Y)0.73
EPS Next 2Y-4.54%
EPS Next 3Y-2.34%

7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.44%, DNB is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.83, DNB pays a better dividend. On top of this DNB pays more dividend than 82.47% of the companies listed in the same industry.
DNB's Dividend Yield is rather good when compared to the S&P500 average which is at 2.31.
Industry RankSector Rank
Dividend Yield 6.44%

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 57.86% of its income as dividend. This is a bit on the high side, but may be sustainable.
The Dividend Rate of DNB has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP57.86%
EPS Next 2Y-4.54%
EPS Next 3Y-2.34%
DNB.OL Yearly Income VS Free CF VS DividendDNB.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100B -100B 200B
DNB.OL Dividend Payout.DNB.OL Dividend Payout, showing the Payout Ratio.DNB.OL Dividend Payout.PayoutRetained Earnings

DNB BANK ASA

OSL:DNB (10/27/2025, 4:25:15 PM)

262

+2.7 (+1.04%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-22 2025-10-22/bmo
Earnings (Next)02-04 2026-02-04/amc
Inst Owners43.3%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap387.13B
Revenue(TTM)93.91B
Net Income(TTM)42.93B
Analysts54.62
Price Target271.96 (3.8%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.44%
Yearly Dividend16.1
Dividend Growth(5Y)17.85%
DP57.86%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-3.08%
Min EPS beat(2)-5.48%
Max EPS beat(2)-0.68%
EPS beat(4)2
Avg EPS beat(4)5.79%
Min EPS beat(4)-5.48%
Max EPS beat(4)23.22%
EPS beat(8)6
Avg EPS beat(8)7.48%
EPS beat(12)10
Avg EPS beat(12)11.35%
EPS beat(16)13
Avg EPS beat(16)9.7%
Revenue beat(2)0
Avg Revenue beat(2)-1.69%
Min Revenue beat(2)-2.44%
Max Revenue beat(2)-0.94%
Revenue beat(4)2
Avg Revenue beat(4)-0.18%
Min Revenue beat(4)-2.44%
Max Revenue beat(4)1.45%
Revenue beat(8)4
Avg Revenue beat(8)0.72%
Revenue beat(12)8
Avg Revenue beat(12)2.96%
Revenue beat(16)11
Avg Revenue beat(16)3.99%
PT rev (1m)0%
PT rev (3m)-0.12%
EPS NQ rev (1m)0.76%
EPS NQ rev (3m)12.98%
EPS NY rev (1m)0.26%
EPS NY rev (3m)1.85%
Revenue NQ rev (1m)0.33%
Revenue NQ rev (3m)3.24%
Revenue NY rev (1m)0.8%
Revenue NY rev (3m)0.37%
Valuation
Industry RankSector Rank
PE 9.05
Fwd PE 9.79
P/S 4.12
P/FCF N/A
P/OCF N/A
P/B 1.37
P/tB 1.48
EV/EBITDA N/A
EPS(TTM)28.95
EY11.05%
EPS(NY)26.75
Fwd EY10.21%
FCF(TTM)-207.85
FCFYN/A
OCF(TTM)-206.38
OCFYN/A
SpS63.55
BVpS191.77
TBVpS177.05
PEG (NY)N/A
PEG (5Y)0.73
Graham Number353.43
Profitability
Industry RankSector Rank
ROA 1.13%
ROE 15.15%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 45.71%
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
ROICexgc growth 3YN/A
ROICexgc 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 RankSector Rank
Debt/Equity 3.43
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 2.31%
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
WACC9.94%
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)4.33%
EPS 3Y21.67%
EPS 5Y12.47%
EPS Q2Q%-11.82%
EPS Next Y-4.25%
EPS Next 2Y-4.54%
EPS Next 3Y-2.34%
EPS Next 5YN/A
Revenue 1Y (TTM)5.91%
Revenue growth 3Y14.89%
Revenue growth 5Y9.2%
Sales Q2Q%-1.22%
Revenue Next Year4.46%
Revenue Next 2Y2.49%
Revenue Next 3Y2.29%
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-298.04%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-292.36%
OCF growth 3YN/A
OCF growth 5YN/A

DNB BANK ASA / DNB.OL FAQ

Can you provide the ChartMill fundamental rating for DNB BANK ASA?

ChartMill assigns a fundamental rating of 3 / 10 to DNB.OL.


What is the valuation status for DNB stock?

ChartMill assigns a valuation rating of 4 / 10 to DNB BANK ASA (DNB.OL). This can be considered as Fairly Valued.


Can you provide the profitability details for DNB BANK ASA?

DNB BANK ASA (DNB.OL) has a profitability rating of 4 / 10.


What is the valuation of DNB BANK ASA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for DNB BANK ASA (DNB.OL) is 9.05 and the Price/Book (PB) ratio is 1.37.


Can you provide the financial health for DNB stock?

The financial health rating of DNB BANK ASA (DNB.OL) is 1 / 10.