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MORROW BANK ASA (MOBA.OL) Stock Fundamental Analysis

OSL:MOBA - Euronext Oslo - NO0010694029 - Common Stock - Currency: NOK

11.4  -0.35 (-2.98%)

Fundamental Rating

3

MOBA gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 96 industry peers in the Banks industry. MOBA may be in some trouble as it scores bad on both profitability and health. MOBA has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

MOBA had positive earnings in the past year.
In the past year MOBA has reported a negative cash flow from operations.
The reported net income has been mixed in the past 5 years: MOBA reported negative net income in multiple years.
Of the past 5 years MOBA 4 years had a positive operating cash flow.
MOBA.OL Yearly Net Income VS EBIT VS OCF VS FCFMOBA.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 500M -500M

1.2 Ratios

Looking at the Return On Assets, with a value of 1.15%, MOBA is in the better half of the industry, outperforming 78.13% of the companies in the same industry.
MOBA has a Return On Equity (8.23%) which is in line with its industry peers.
Industry RankSector Rank
ROA 1.15%
ROE 8.23%
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
MOBA.OL Yearly ROA, ROE, ROICMOBA.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

MOBA has a Profit Margin of 15.75%. This is in the lower half of the industry: MOBA underperforms 69.79% of its industry peers.
MOBA's Profit Margin has been stable in the last couple of years.
MOBA 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) 15.75%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5Y-1.25%
GM growth 3YN/A
GM growth 5YN/A
MOBA.OL Yearly Profit, Operating, Gross MarginsMOBA.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20 30

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1

2. Health

2.1 Basic Checks

MOBA does not have a ROIC to compare to the WACC, probably because it is not profitable.
MOBA has more shares outstanding than it did 5 years ago.
MOBA.OL Yearly Shares OutstandingMOBA.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2024 50M 100M 150M 200M
MOBA.OL Yearly Total Debt VS Total AssetsMOBA.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2024 5B 10B 15B

2.2 Solvency

A Debt/Equity ratio of 0.10 indicates that MOBA is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.10, MOBA belongs to the top of the industry, outperforming 90.63% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC8.31%
MOBA.OL Yearly LT Debt VS Equity VS FCFMOBA.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 1B 2B

2.3 Liquidity

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

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6

3. Growth

3.1 Past

MOBA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 50.00%, which is quite impressive.
MOBA shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.00% yearly.
MOBA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 15.78%.
The Revenue has been decreasing by -0.13% on average over the past years.
EPS 1Y (TTM)50%
EPS 3YN/A
EPS 5Y-5%
EPS Q2Q%47.06%
Revenue 1Y (TTM)15.78%
Revenue growth 3Y11%
Revenue growth 5Y-0.13%
Sales Q2Q%16.26%

3.2 Future

Based on estimates for the next years, MOBA will show a very strong growth in Earnings Per Share. The EPS will grow by 24.46% on average per year.
The Revenue is expected to grow by 8.86% on average over the next years. This is quite good.
EPS Next Y53%
EPS Next 2Y35.91%
EPS Next 3Y24.46%
EPS Next 5YN/A
Revenue Next Year14.47%
Revenue Next 2Y10.79%
Revenue Next 3Y8.86%
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 accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
MOBA.OL Yearly Revenue VS EstimatesMOBA.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
MOBA.OL Yearly EPS VS EstimatesMOBA.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 12.67 indicates a correct valuation of MOBA.
MOBA's Price/Earnings ratio is rather expensive when compared to the industry. MOBA is more expensive than 83.33% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.35. MOBA is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 7.53, the valuation of MOBA can be described as very cheap.
Based on the Price/Forward Earnings ratio, MOBA is valued a bit cheaper than 77.08% of the companies in the same industry.
MOBA's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
Industry RankSector Rank
PE 12.67
Fwd PE 7.53
MOBA.OL Price Earnings VS Forward Price EarningsMOBA.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
MOBA.OL Per share dataMOBA.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as MOBA's earnings are expected to grow with 24.46% in the coming years.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y35.91%
EPS Next 3Y24.46%

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2

5. Dividend

5.1 Amount

MOBA has a Yearly Dividend Yield of 3.40%. Purely for dividend investing, there may be better candidates out there.
With a Dividend Yield of 3.40, MOBA pays less dividend than the industry average, which is at 5.14. 80.21% of the companies listed in the same industry pay a better dividend than MOBA!
MOBA's Dividend Yield is a higher than the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 3.4%

5.2 History

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

5.3 Sustainability

DP0%
EPS Next 2Y35.91%
EPS Next 3Y24.46%
MOBA.OL Yearly Income VS Free CF VS DividendMOBA.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 500M -500M

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MORROW BANK ASA

OSL:MOBA (6/20/2025, 7:00:00 PM)

11.4

-0.35 (-2.98%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-14 2025-08-14
Inst Owners12.89%
Inst Owner ChangeN/A
Ins Owners0.02%
Ins Owner ChangeN/A
Market Cap2.63B
Analysts82.5
Price Target15.2 (33.33%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.4%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-14.96%
Min EPS beat(2)-15.48%
Max EPS beat(2)-14.44%
EPS beat(4)2
Avg EPS beat(4)11.96%
Min EPS beat(4)-15.48%
Max EPS beat(4)47.06%
EPS beat(8)6
Avg EPS beat(8)14%
EPS beat(12)7
Avg EPS beat(12)-12.85%
EPS beat(16)7
Avg EPS beat(16)-36.54%
Revenue beat(2)0
Avg Revenue beat(2)-2.02%
Min Revenue beat(2)-2.95%
Max Revenue beat(2)-1.1%
Revenue beat(4)2
Avg Revenue beat(4)2.02%
Min Revenue beat(4)-2.95%
Max Revenue beat(4)8.21%
Revenue beat(8)5
Avg Revenue beat(8)2.82%
Revenue beat(12)8
Avg Revenue beat(12)2.65%
Revenue beat(16)9
Avg Revenue beat(16)2.79%
PT rev (1m)30.7%
PT rev (3m)30.7%
EPS NQ rev (1m)-8.33%
EPS NQ rev (3m)-8.33%
EPS NY rev (1m)0%
EPS NY rev (3m)-11.51%
Revenue NQ rev (1m)-3.95%
Revenue NQ rev (3m)-3.95%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 12.67
Fwd PE 7.53
P/S 1.99
P/FCF N/A
P/OCF N/A
P/B 1.04
P/tB 1.07
EV/EBITDA N/A
EPS(TTM)0.9
EY7.89%
EPS(NY)1.51
Fwd EY13.29%
FCF(TTM)-1.48
FCFYN/A
OCF(TTM)-1.3
OCFYN/A
SpS5.72
BVpS10.95
TBVpS10.65
PEG (NY)0.24
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.15%
ROE 8.23%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 15.75%
GM N/A
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
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 3YN/A
PM growth 5Y-1.25%
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 0.1
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 92.32%
Cap/Sales 3.19%
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-Score3
WACC8.31%
ROIC/WACCN/A
Cap/Depr(3y)94.9%
Cap/Depr(5y)97.75%
Cap/Sales(3y)5.08%
Cap/Sales(5y)6%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50%
EPS 3YN/A
EPS 5Y-5%
EPS Q2Q%47.06%
EPS Next Y53%
EPS Next 2Y35.91%
EPS Next 3Y24.46%
EPS Next 5YN/A
Revenue 1Y (TTM)15.78%
Revenue growth 3Y11%
Revenue growth 5Y-0.13%
Sales Q2Q%16.26%
Revenue Next Year14.47%
Revenue Next 2Y10.79%
Revenue Next 3Y8.86%
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 1Y61.56%
FCF growth 3Y16.62%
FCF growth 5YN/A
OCF growth 1Y63.71%
OCF growth 3Y11.16%
OCF growth 5YN/A