MING Fundamental Analysis - SPAREBANK 1 SMN

Fundamental Rating

MING gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 96 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 valuation in line with the averages, but it does not seem to be growing.

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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.

Each year in the past 5 years MING has been profitable.

In multiple years MING reported negative operating cash flow during the last 5 years.

1.2 Ratios

MING's Return On Assets of 1.17% is amongst the best of the industry. MING outperforms 82.29% of its industry peers.

Looking at the Return On Equity, with a value of 10.32%, MING is in line with its industry, outperforming 51.04% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	1.17%
ROE	10.32%
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

1.3 Margins

MING has a better Profit Margin (31.36%) than 79.17% of its industry peers.

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

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

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	31.36%
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

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ROA

ROE

ROIC

Operating and Profit Margin

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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.

Compared to 5 years ago, MING has more shares outstanding

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

2.2 Solvency

MING has a debt to FCF ratio of 10.21. This is a negative value and a sign of low solvency as MING would need 10.21 years to pay back of all of its debts.

MING's Debt to FCF ratio of 10.21 is amongst the best of the industry. MING outperforms 84.38% of its industry peers.

MING has a Debt/Equity ratio of 1.89. This is a high value indicating a heavy dependency on external financing.

The Debt to Equity ratio of MING (1.89) is comparable to the rest of the industry.

		Industry Rank	Sector Rank
Debt/Equity	1.89
Debt/FCF	10.21
Altman-Z	N/A

ROIC/WACCN/A

WACC3.31%

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 13.21% over the past year.

The Earnings Per Share has been growing by 9.16% on average over the past years. This is quite good.

Looking at the last year, MING shows a very negative growth in Revenue. The Revenue has decreased by -12.21% in the last year.

The Revenue has been growing slightly by 7.97% on average over the past years.

EPS 1Y (TTM)13.21%

EPS 3Y14.86%

EPS 5Y9.16%

EPS Q2Q%12.64%

Revenue 1Y (TTM)-12.21%

Revenue growth 3Y10.85%

Revenue growth 5Y7.97%

Sales Q2Q%8.93%

3.2 Future

Based on estimates for the next years, MING will show a decrease in Earnings Per Share. The EPS will decrease by -1.98% on average per year.

MING is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.16% yearly.

EPS Next Y-9.66%

EPS Next 2Y-4.42%

EPS Next 3Y-1.98%

EPS Next 5YN/A

Revenue Next Year1.28%

Revenue Next 2Y2.02%

Revenue Next 3Y2.16%

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.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 9.18, the valuation of MING can be described as very reasonable.

Compared to the rest of the industry, the Price/Earnings ratio of MING is on the same level as its industry peers.

Compared to an average S&P500 Price/Earnings ratio of 26.90, MING is valued rather cheaply.

With a Price/Forward Earnings ratio of 10.15, the valuation of MING can be described as very reasonable.

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

Compared to an average S&P500 Price/Forward Earnings ratio of 22.52, MING is valued rather cheaply.

		Industry Rank	Sector Rank
PE	9.18
Fwd PE	10.15

4.2 Price Multiples

MING's Price/Free Cash Flow ratio is rather cheap when compared to the industry. MING is cheaper than 86.46% of the companies in the same industry.

		Industry Rank	Sector Rank
P/FCF	5.02
EV/EBITDA	N/A

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)1

EPS Next 2Y-4.42%

EPS Next 3Y-1.98%

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5. Dividend

5.1 Amount

MING has a Yearly Dividend Yield of 6.56%, which is a nice return.

Compared to an average industry Dividend Yield of 5.01, MING pays a bit more dividend than its industry peers.

MING's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.

		Industry Rank	Sector Rank
Dividend Yield	6.56%

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

60.23% of the earnings are spent on dividend by MING. 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.

DP60.23%

EPS Next 2Y-4.42%

EPS Next 3Y-1.98%

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SPAREBANK 1 SMN

OSL:MING (9/3/2025, 11:57:13 AM)

187.22

-2.56 (-1.35%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)08-07 2025-08-07/bmo

Earnings (Next)10-29 2025-10-29

Inst Owners37.54%

Inst Owner ChangeN/A

Ins Owners0.31%

Ins Owner ChangeN/A

Market Cap27.00B

Analysts78.33

Price Target204.61 (9.29%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	6.56%

Yearly Dividend6.14

Dividend Growth(5Y)6.94%

DP60.23%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-1.83%

Min EPS beat(2)-6.65%

Max EPS beat(2)2.99%

EPS beat(4)3

Avg EPS beat(4)8.67%

Min EPS beat(4)-6.65%

Max EPS beat(4)29.78%

EPS beat(8)5

Avg EPS beat(8)3%

EPS beat(12)7

Avg EPS beat(12)1.25%

EPS beat(16)11

Avg EPS beat(16)3.13%

Revenue beat(2)1

Avg Revenue beat(2)-0.23%

Min Revenue beat(2)-2.72%

Max Revenue beat(2)2.26%

Revenue beat(4)3

Avg Revenue beat(4)2.14%

Min Revenue beat(4)-2.72%

Max Revenue beat(4)6.27%

Revenue beat(8)6

Avg Revenue beat(8)2.66%

Revenue beat(12)6

Avg Revenue beat(12)-2.52%

Revenue beat(16)9

Avg Revenue beat(16)2.15%

PT rev (1m)2.98%

PT rev (3m)10.93%

EPS NQ rev (1m)0.15%

EPS NQ rev (3m)N/A

EPS NY rev (1m)-0.6%

EPS NY rev (3m)-0.6%

Revenue NQ rev (1m)0.04%

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0.36%

Revenue NY rev (3m)-0.75%

Valuation

		Industry Rank	Sector Rank
PE	9.18
Fwd PE	10.15
P/S	2.83
P/FCF	5.02
P/OCF	5.34
P/B	0.93
P/tB	0.97
EV/EBITDA	N/A

EPS(TTM)20.39

EY10.89%

EPS(NY)18.45

Fwd EY9.86%

FCF(TTM)37.3

FCFY19.92%

OCF(TTM)35.04

OCFY18.72%

SpS66.2

BVpS201.1

TBVpS192.39

PEG (NY)N/A

PEG (5Y)1

Profitability

		Industry Rank	Sector Rank
ROA	1.17%
ROE	10.32%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	31.36%
GM	N/A
FCFM	56.34%

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 Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	1.89
Debt/FCF	10.21
Debt/EBITDA	N/A
Cap/Depr	N/A
Cap/Sales	3.4%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	179.68%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score6

WACC3.31%

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)13.21%

EPS 3Y14.86%

EPS 5Y9.16%

EPS Q2Q%12.64%

EPS Next Y-9.66%

EPS Next 2Y-4.42%

EPS Next 3Y-1.98%

EPS Next 5YN/A

Revenue 1Y (TTM)-12.21%

Revenue growth 3Y10.85%

Revenue growth 5Y7.97%

Sales Q2Q%8.93%

Revenue Next Year1.28%

Revenue Next 2Y2.02%

Revenue Next 3Y2.16%

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 1Y142.83%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y140.69%

OCF growth 3YN/A

OCF growth 5YN/A

SPAREBANK 1 SMN (MING.OL) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

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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