SPAREBANK 1 SMN (MING.OL) Stock Fundamental Analysis
OSL:MING - Euronext Oslo - NO0006390301 - Common Stock - Currency: NOK
We assign a fundamental rating of 3 out of 10 to MING. MING was compared to 95 industry peers in the Banks industry. While MING is still in line with the averages on profitability rating, there are concerns on its financial health. MING has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
MING had positive earnings in the past year.
MING had a positive operating cash flow in the past year.
MING had positive earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: MING reported negative operating cash flow in multiple years.
1.2 Ratios
MING has a better Return On Assets (1.43%) than 89.47% of its industry peers.
With a decent Return On Equity value of 12.93%, MING is doing good in the industry, outperforming 66.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.43% | ||
| ROE | 12.93% | ||
| ROIC | N/A |
ROA(3y)0.98%
ROA(5y)0.88%
ROE(3y)8.44%
ROE(5y)7.73%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
MING has a better Profit Margin (31.15%) than 81.05% of its industry peers.
In the last couple of years the Profit Margin of MING has grown nicely.
MING does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 31.15% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y8.17%
PM growth 5Y5.17%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
MING does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for MING remains at a similar level compared to 1 year ago.
The number of shares outstanding for MING has been increased compared to 5 years ago.
MING has a worse debt/assets ratio than last year.
2.2 Solvency
The Debt to FCF ratio of MING is 26.15, which is on the high side as it means it would take MING, 26.15 years of fcf income to pay off all of its debts.
MING has a better Debt to FCF ratio (26.15) than 77.89% of its industry peers.
A Debt/Equity ratio of 1.95 is on the high side and indicates that MING has dependencies on debt financing.
MING has a Debt to Equity ratio (1.95) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.95 | ||
| Debt/FCF | 26.15 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC3.27%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
MING shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.47%, which is quite good.
MING shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 9.16% yearly.
Looking at the last year, MING shows a quite strong growth in Revenue. The Revenue has grown by 16.30% in the last year.
The Revenue has been growing slightly by 7.97% on average over the past years.
EPS 1Y (TTM)11.47%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-7.91%
Revenue 1Y (TTM)16.3%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-0.51%
3.2 Future
The Earnings Per Share is expected to decrease by -2.09% on average over the next years.
MING is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.63% yearly.
EPS Next Y-9.12%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
EPS Next 5YN/A
Revenue Next Year2.04%
Revenue Next 2Y1.77%
Revenue Next 3Y1.63%
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.
4. Valuation
4.1 Price/Earnings Ratio
MING is valuated reasonably with a Price/Earnings ratio of 9.73.
MING's Price/Earnings is on the same level as the industry average.
MING is valuated cheaply when we compare the Price/Earnings ratio to 27.46, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 10.63 indicates a reasonable valuation of MING.
The rest of the industry has a similar Price/Forward Earnings ratio as MING.
MING's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.73 | ||
| Fwd PE | 10.63 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MING indicates a somewhat cheap valuation: MING is cheaper than 76.84% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.41 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
A cheap valuation may be justified as MING's earnings are expected to decrease with -2.09% in the coming years.
PEG (NY)N/A
PEG (5Y)1.06
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
5. Dividend
5.1 Amount
MING has a Yearly Dividend Yield of 6.33%, which is a nice return.
Compared to an average industry Dividend Yield of 5.06, MING pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, MING pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.33% |
5.2 History
On average, the dividend of MING grows each year by 6.94%, which is quite nice.
Dividend Growth(5Y)6.94%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
MING pays out 98.27% of its income as dividend. This is not a sustainable payout ratio.
The Dividend Rate of MING has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP98.27%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
OSL:MING (7/21/2025, 4:19:10 PM)
192.94
-2.74 (-1.4%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners37.54%
Inst Owner ChangeN/A
Ins Owners0.31%
Ins Owner ChangeN/A
Market Cap27.83B
Analysts78.33
Price Target198.7 (2.99%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.33% |
Yearly Dividend6.14
Dividend Growth(5Y)6.94%
DP98.27%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.95%
Min EPS beat(2)-6.65%
Max EPS beat(2)8.55%
EPS beat(4)2
Avg EPS beat(4)6.6%
Min EPS beat(4)-6.65%
Max EPS beat(4)29.78%
EPS beat(8)5
Avg EPS beat(8)3.01%
EPS beat(12)7
Avg EPS beat(12)1.56%
EPS beat(16)11
Avg EPS beat(16)4.13%
Revenue beat(2)1
Avg Revenue beat(2)0.02%
Min Revenue beat(2)-2.72%
Max Revenue beat(2)2.76%
Revenue beat(4)3
Avg Revenue beat(4)2.01%
Min Revenue beat(4)-2.72%
Max Revenue beat(4)6.27%
Revenue beat(8)5
Avg Revenue beat(8)1.71%
Revenue beat(12)6
Avg Revenue beat(12)6.22%
Revenue beat(16)9
Avg Revenue beat(16)9.46%
PT rev (1m)5.77%
PT rev (3m)7.72%
EPS NQ rev (1m)-1.55%
EPS NQ rev (3m)-1.07%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.9%
Revenue NQ rev (3m)0.09%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.16%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.73 | ||
| Fwd PE | 10.63 | ||
| P/S | 2.41 | ||
| P/FCF | 13.41 | ||
| P/OCF | 12.47 | ||
| P/B | 1 | ||
| P/tB | 1.05 | ||
| EV/EBITDA | N/A |
EPS(TTM)19.83
EY10.28%
EPS(NY)18.15
Fwd EY9.41%
FCF(TTM)14.39
FCFY7.46%
OCF(TTM)15.47
OCFY8.02%
SpS80.04
BVpS192.84
TBVpS184.37
PEG (NY)N/A
PEG (5Y)1.06
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.43% | ||
| ROE | 12.93% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 31.15% | ||
| GM | N/A | ||
| FCFM | 17.98% |
ROA(3y)0.98%
ROA(5y)0.88%
ROE(3y)8.44%
ROE(5y)7.73%
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 3Y8.17%
PM growth 5Y5.17%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.05
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.95 | ||
| Debt/FCF | 26.15 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | 1.35% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 57.72% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score6
WACC3.27%
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)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)11.47%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-7.91%
EPS Next Y-9.12%
EPS Next 2Y-5.2%
EPS Next 3Y-2.09%
EPS Next 5YN/A
Revenue 1Y (TTM)16.3%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-0.51%
Revenue Next Year2.04%
Revenue Next 2Y1.77%
Revenue Next 3Y1.63%
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 1Y120.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y122.15%
OCF growth 3YN/A
OCF growth 5YN/A