MELHUS SPAREBANK (MELG.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:MELG • NO0006001908

190.06 NOK
-1.06 (-0.55%)
Last: Feb 10, 2026, 02:39 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to MELG. MELG was compared to 114 industry peers in the Banks industry. MELG has a bad profitability rating. Also its financial health evaluation is rather negative. MELG has a decent growth rate and is not valued too expensively. Finally MELG also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • In the past year MELG was profitable.
  • In the past year MELG had a positive cash flow from operations.
  • MELG had positive earnings in each of the past 5 years.
  • In multiple years MELG reported negative operating cash flow during the last 5 years.
MELG.OL Yearly Net Income VS EBIT VS OCF VS FCFMELG.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M

1.2 Ratios

  • MELG has a Return On Assets of 0.38%. This is amonst the worse of the industry: MELG underperforms 84.21% of its industry peers.
  • MELG's Return On Equity of 2.81% is on the low side compared to the rest of the industry. MELG is outperformed by 83.33% of its industry peers.
Industry RankSector Rank
ROA 0.38%
ROE 2.81%
ROIC N/A
ROA(3y)0.39%
ROA(5y)0.38%
ROE(3y)2.93%
ROE(5y)2.99%
ROIC(3y)N/A
ROIC(5y)N/A
MELG.OL Yearly ROA, ROE, ROICMELG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3

1.3 Margins

  • MELG has a worse Profit Margin (12.88%) than 87.72% of its industry peers.
  • MELG's Profit Margin has declined in the last couple of years.
  • The Operating Margin and Gross Margin are not available for MELG so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 12.88%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-5.95%
PM growth 5Y-4.7%
GM growth 3YN/A
GM growth 5YN/A
MELG.OL Yearly Profit, Operating, Gross MarginsMELG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • MELG does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, MELG has about the same amount of shares outstanding.
  • MELG has less shares outstanding than it did 5 years ago.
  • MELG has a better debt/assets ratio than last year.
MELG.OL Yearly Shares OutstandingMELG.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500K 1M 1.5M 2M 2.5M
MELG.OL Yearly Total Debt VS Total AssetsMELG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

  • The Debt to FCF ratio of MELG is 15.69, which is on the high side as it means it would take MELG, 15.69 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of MELG (15.69) is better than 70.18% of its industry peers.
  • A Debt/Equity ratio of 1.53 is on the high side and indicates that MELG has dependencies on debt financing.
  • MELG has a Debt to Equity ratio (1.53) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 1.53
Debt/FCF 15.69
Altman-Z N/A
ROIC/WACCN/A
WACC6.02%
MELG.OL Yearly LT Debt VS Equity VS FCFMELG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MELG.OL Yearly Current Assets VS Current LiabilitesMELG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 19.49% over the past year.
  • Measured over the past 5 years, MELG shows a small growth in Earnings Per Share. The EPS has been growing by 2.28% on average per year.
  • MELG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.69%.
  • The Revenue has been growing by 8.85% on average over the past years. This is quite good.
EPS 1Y (TTM)19.49%
EPS 3Y-2.01%
EPS 5Y2.28%
EPS Q2Q%-11.31%
Revenue 1Y (TTM)6.69%
Revenue growth 3Y12.33%
Revenue growth 5Y8.85%
Sales Q2Q%-2.38%

3.2 Future

  • Based on estimates for the next years, MELG will show a decrease in Earnings Per Share. The EPS will decrease by -1.56% on average per year.
  • MELG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.32% yearly.
EPS Next Y-3.67%
EPS Next 2Y-3.64%
EPS Next 3Y-1.56%
EPS Next 5YN/A
Revenue Next Year5.37%
Revenue Next 2Y4.58%
Revenue Next 3Y4.32%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MELG.OL Yearly Revenue VS EstimatesMELG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
MELG.OL Yearly EPS VS EstimatesMELG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5 10 15

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4

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 12.25 indicates a correct valuation of MELG.
  • Compared to the rest of the industry, the Price/Earnings ratio of MELG is on the same level as its industry peers.
  • MELG is valuated cheaply when we compare the Price/Earnings ratio to 28.06, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 13.40, the valuation of MELG can be described as correct.
  • MELG's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. MELG is more expensive than 76.32% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of MELG to the average of the S&P500 Index (27.86), we can say MELG is valued rather cheaply.
Industry RankSector Rank
PE 12.25
Fwd PE 13.4
MELG.OL Price Earnings VS Forward Price EarningsMELG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, MELG is valued cheaper than 85.96% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.29
EV/EBITDA N/A
MELG.OL Per share dataMELG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 100 200 300 400 500

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)5.37
EPS Next 2Y-3.64%
EPS Next 3Y-1.56%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 7.04%, MELG is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.12, MELG pays a better dividend. On top of this MELG pays more dividend than 88.60% of the companies listed in the same industry.
  • MELG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 7.04%

5.2 History

  • The dividend of MELG is nicely growing with an annual growth rate of 8.45%!
Dividend Growth(5Y)8.45%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 75.23% of the earnings are spent on dividend by MELG. This is not a sustainable payout ratio.
  • The Dividend Rate of MELG has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP75.23%
EPS Next 2Y-3.64%
EPS Next 3Y-1.56%
MELG.OL Yearly Income VS Free CF VS DividendMELG.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M
MELG.OL Dividend Payout.MELG.OL Dividend Payout, showing the Payout Ratio.MELG.OL Dividend Payout.PayoutRetained Earnings

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MELHUS SPAREBANK

OSL:MELG (2/10/2026, 2:39:18 PM)

190.06

-1.06 (-0.55%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)11-14
Earnings (Next)02-11
Inst Owners8.7%
Inst Owner ChangeN/A
Ins Owners17.01%
Ins Owner ChangeN/A
Market Cap528.37M
Revenue(TTM)358.07M
Net Income(TTM)46.13M
Analysts42.22
Price Target187.68 (-1.25%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.04%
Yearly Dividend12.5
Dividend Growth(5Y)8.45%
DP75.23%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.85%
Min EPS beat(2)-22.32%
Max EPS beat(2)0.62%
EPS beat(4)2
Avg EPS beat(4)2.53%
Min EPS beat(4)-22.32%
Max EPS beat(4)42.55%
EPS beat(8)4
Avg EPS beat(8)-2.41%
EPS beat(12)5
Avg EPS beat(12)-4.88%
EPS beat(16)7
Avg EPS beat(16)-3.36%
Revenue beat(2)1
Avg Revenue beat(2)3.83%
Min Revenue beat(2)-6.81%
Max Revenue beat(2)14.48%
Revenue beat(4)2
Avg Revenue beat(4)2.55%
Min Revenue beat(4)-6.81%
Max Revenue beat(4)14.48%
Revenue beat(8)4
Avg Revenue beat(8)0.89%
Revenue beat(12)7
Avg Revenue beat(12)-3.34%
Revenue beat(16)11
Avg Revenue beat(16)0.64%
PT rev (1m)3.95%
PT rev (3m)3.95%
EPS NQ rev (1m)-10.79%
EPS NQ rev (3m)-10.79%
EPS NY rev (1m)-9.3%
EPS NY rev (3m)-9.3%
Revenue NQ rev (1m)-6.33%
Revenue NQ rev (3m)-6.33%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 12.25
Fwd PE 13.4
P/S 1.48
P/FCF 3.29
P/OCF 3.07
P/B 0.32
P/tB 0.32
EV/EBITDA N/A
EPS(TTM)15.51
EY8.16%
EPS(NY)14.19
Fwd EY7.47%
FCF(TTM)57.7
FCFY30.36%
OCF(TTM)61.82
OCFY32.52%
SpS128.8
BVpS590.05
TBVpS588.99
PEG (NY)N/A
PEG (5Y)5.37
Graham Number453.77
Profitability
Industry RankSector Rank
ROA 0.38%
ROE 2.81%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 12.88%
GM N/A
FCFM 44.8%
ROA(3y)0.39%
ROA(5y)0.38%
ROE(3y)2.93%
ROE(5y)2.99%
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 3Y-5.95%
PM growth 5Y-4.7%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 1.53
Debt/FCF 15.69
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 3.2%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 347.75%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC6.02%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)394.21%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)19.49%
EPS 3Y-2.01%
EPS 5Y2.28%
EPS Q2Q%-11.31%
EPS Next Y-3.67%
EPS Next 2Y-3.64%
EPS Next 3Y-1.56%
EPS Next 5YN/A
Revenue 1Y (TTM)6.69%
Revenue growth 3Y12.33%
Revenue growth 5Y8.85%
Sales Q2Q%-2.38%
Revenue Next Year5.37%
Revenue Next 2Y4.58%
Revenue Next 3Y4.32%
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-63.05%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-67.13%
OCF growth 3YN/A
OCF growth 5YN/A

MELHUS SPAREBANK / MELG.OL FAQ

Can you provide the ChartMill fundamental rating for MELHUS SPAREBANK?

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


Can you provide the valuation status for MELHUS SPAREBANK?

ChartMill assigns a valuation rating of 4 / 10 to MELHUS SPAREBANK (MELG.OL). This can be considered as Fairly Valued.


What is the profitability of MELG stock?

MELHUS SPAREBANK (MELG.OL) has a profitability rating of 2 / 10.


What are the PE and PB ratios of MELHUS SPAREBANK (MELG.OL) stock?

The Price/Earnings (PE) ratio for MELHUS SPAREBANK (MELG.OL) is 12.25 and the Price/Book (PB) ratio is 0.32.


Can you provide the expected EPS growth for MELG stock?

The Earnings per Share (EPS) of MELHUS SPAREBANK (MELG.OL) is expected to decline by -3.67% in the next year.