SPAREBANK 1 SMN (MING.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:MING • NO0006390301

200 NOK
+4.42 (+2.26%)
Last: Feb 6, 2026, 07:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to MING. MING was compared to 111 industry peers in the Banks industry. Both the profitability and financial health of MING have multiple concerns. MING has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

3

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.
  • In the past 5 years MING has always been profitable.
  • In multiple years MING reported negative operating cash flow during the last 5 years.
MING.OL Yearly Net Income VS EBIT VS OCF VS FCFMING.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 5B -5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 1.11%, MING is in the better half of the industry, outperforming 72.97% of the companies in the same industry.
  • MING has a Return On Equity of 9.32%. This is comparable to the rest of the industry: MING outperforms 41.44% of its industry peers.
Industry RankSector Rank
ROA 1.11%
ROE 9.32%
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
MING.OL Yearly ROA, ROE, ROICMING.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

  • The Profit Margin of MING (30.32%) is better than 78.38% of its industry peers.
  • MING's Profit Margin has improved in the last couple of years.
  • MING does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 30.32%
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
MING.OL Yearly Profit, Operating, Gross MarginsMING.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

  • MING does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, MING has about the same amount of shares outstanding.
  • The number of shares outstanding for MING has been increased compared to 5 years ago.
  • Compared to 1 year ago, MING has a worse debt to assets ratio.
MING.OL Yearly Shares OutstandingMING.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M
MING.OL Yearly Total Debt VS Total AssetsMING.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

2.2 Solvency

  • The Debt to FCF ratio of MING is 10.72, which is on the high side as it means it would take MING, 10.72 years of fcf income to pay off all of its debts.
  • MING's Debt to FCF ratio of 10.72 is fine compared to the rest of the industry. MING outperforms 79.28% of its industry peers.
  • MING has a Debt/Equity ratio of 1.85. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.85, MING perfoms like the industry average, outperforming 52.25% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.85
Debt/FCF 10.72
Altman-Z N/A
ROIC/WACCN/A
WACC3.83%
MING.OL Yearly LT Debt VS Equity VS FCFMING.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MING.OL Yearly Current Assets VS Current LiabilitesMING.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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

2

3. Growth

3.1 Past

  • The earnings per share for MING have decreased strongly by -10.35% in the last year.
  • The Earnings Per Share has been growing by 9.16% on average over the past years. This is quite good.
  • The Revenue for MING has decreased by -20.67% in the past year. This is quite bad
  • The Revenue has been growing slightly by 7.97% on average over the past years.
EPS 1Y (TTM)-10.35%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-22.27%
Revenue 1Y (TTM)-20.67%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-10.43%

3.2 Future

  • The Earnings Per Share is expected to decrease by -1.42% on average over the next years.
  • Based on estimates for the next years, MING will show a small growth in Revenue. The Revenue will grow by 2.55% on average per year.
EPS Next Y-4.92%
EPS Next 2Y-3.67%
EPS Next 3Y-1.42%
EPS Next 5YN/A
Revenue Next Year3.68%
Revenue Next 2Y2.26%
Revenue Next 3Y2.55%
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.
MING.OL Yearly Revenue VS EstimatesMING.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B
MING.OL Yearly EPS VS EstimatesMING.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5 10 15 20

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5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.55, the valuation of MING can be described as reasonable.
  • MING's Price/Earnings ratio is a bit cheaper when compared to the industry. MING is cheaper than 68.47% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of MING to the average of the S&P500 Index (27.92), we can say MING is valued rather cheaply.
  • Based on the Price/Forward Earnings ratio of 10.67, the valuation of MING can be described as reasonable.
  • Based on the Price/Forward Earnings ratio, MING is valued a bit cheaper than the industry average as 72.97% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, MING is valued rather cheaply.
Industry RankSector Rank
PE 10.55
Fwd PE 10.67
MING.OL Price Earnings VS Forward Price EarningsMING.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of MING indicates a rather cheap valuation: MING is cheaper than 82.88% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 5.54
EV/EBITDA N/A
MING.OL Per share dataMING.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150 200

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)1.15
EPS Next 2Y-3.67%
EPS Next 3Y-1.42%

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

6

5. Dividend

5.1 Amount

  • MING has a Yearly Dividend Yield of 6.48%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.10, MING pays a better dividend. On top of this MING pays more dividend than 81.98% of the companies listed in the same industry.
  • MING's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 6.48%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 64.12% of the earnings are spent on dividend by MING. This is not a sustainable payout ratio.
DP64.12%
EPS Next 2Y-3.67%
EPS Next 3Y-1.42%
MING.OL Yearly Income VS Free CF VS DividendMING.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B -4B -6B -8B
MING.OL Dividend Payout.MING.OL Dividend Payout, showing the Payout Ratio.MING.OL Dividend Payout.PayoutRetained Earnings

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SPAREBANK 1 SMN

OSL:MING (2/6/2026, 7:00:00 PM)

200

+4.42 (+2.26%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-29
Earnings (Next)02-12
Inst Owners34.33%
Inst Owner ChangeN/A
Ins Owners0.31%
Ins Owner ChangeN/A
Market Cap28.84B
Revenue(TTM)9.28B
Net Income(TTM)2.81B
Analysts76
Price Target205.28 (2.64%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.48%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP64.12%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.59%
Min EPS beat(2)2.99%
Max EPS beat(2)8.19%
EPS beat(4)3
Avg EPS beat(4)3.27%
Min EPS beat(4)-6.65%
Max EPS beat(4)8.55%
EPS beat(8)6
Avg EPS beat(8)6.53%
EPS beat(12)8
Avg EPS beat(12)2.87%
EPS beat(16)11
Avg EPS beat(16)3.32%
Revenue beat(2)2
Avg Revenue beat(2)1.26%
Min Revenue beat(2)0.26%
Max Revenue beat(2)2.26%
Revenue beat(4)3
Avg Revenue beat(4)0.64%
Min Revenue beat(4)-2.72%
Max Revenue beat(4)2.76%
Revenue beat(8)7
Avg Revenue beat(8)4.18%
Revenue beat(12)7
Avg Revenue beat(12)-2.11%
Revenue beat(16)9
Avg Revenue beat(16)1.95%
PT rev (1m)0%
PT rev (3m)1.51%
EPS NQ rev (1m)0.92%
EPS NQ rev (3m)3.92%
EPS NY rev (1m)0.14%
EPS NY rev (3m)5.14%
Revenue NQ rev (1m)-3.23%
Revenue NQ rev (3m)-6.34%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.22%
Valuation
Industry RankSector Rank
PE 10.55
Fwd PE 10.67
P/S 3.11
P/FCF 5.54
P/OCF 5.37
P/B 0.96
P/tB 1
EV/EBITDA N/A
EPS(TTM)18.96
EY9.48%
EPS(NY)18.75
Fwd EY9.37%
FCF(TTM)36.13
FCFY18.06%
OCF(TTM)37.21
OCFY18.61%
SpS64.31
BVpS209.26
TBVpS200.6
PEG (NY)N/A
PEG (5Y)1.15
Graham Number298.78
Profitability
Industry RankSector Rank
ROA 1.11%
ROE 9.32%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 30.32%
GM N/A
FCFM 56.17%
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
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 3Y8.17%
PM growth 5Y5.17%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 1.85
Debt/FCF 10.72
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 1.69%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 185.29%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC3.83%
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)-10.35%
EPS 3Y14.86%
EPS 5Y9.16%
EPS Q2Q%-22.27%
EPS Next Y-4.92%
EPS Next 2Y-3.67%
EPS Next 3Y-1.42%
EPS Next 5YN/A
Revenue 1Y (TTM)-20.67%
Revenue growth 3Y10.85%
Revenue growth 5Y7.97%
Sales Q2Q%-10.43%
Revenue Next Year3.68%
Revenue Next 2Y2.26%
Revenue Next 3Y2.55%
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 1Y64.93%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y61.27%
OCF growth 3YN/A
OCF growth 5YN/A

SPAREBANK 1 SMN / MING.OL FAQ

What is the ChartMill fundamental rating of SPAREBANK 1 SMN (MING.OL) stock?

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


What is the valuation status of SPAREBANK 1 SMN (MING.OL) stock?

ChartMill assigns a valuation rating of 5 / 10 to SPAREBANK 1 SMN (MING.OL). This can be considered as Fairly Valued.


What is the profitability of MING stock?

SPAREBANK 1 SMN (MING.OL) has a profitability rating of 3 / 10.


How financially healthy is SPAREBANK 1 SMN?

The financial health rating of SPAREBANK 1 SMN (MING.OL) is 1 / 10.


What is the expected EPS growth for SPAREBANK 1 SMN (MING.OL) stock?

The Earnings per Share (EPS) of SPAREBANK 1 SMN (MING.OL) is expected to decline by -4.92% in the next year.