SPAREBANKEN MORE-CAP CERT (MORG.OL) Stock Fundamental Analysis

OSL:MORG • NO0012483207

113.26 NOK
+0.26 (+0.23%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

Taking everything into account, MORG scores 3 out of 10 in our fundamental rating. MORG was compared to 108 industry peers in the Banks industry. MORG has a bad profitability rating. Also its financial health evaluation is rather negative. MORG has a valuation in line with the averages, but on the other hand it scores bad on growth. MORG also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • In the past year MORG was profitable.
  • MORG had a positive operating cash flow in the past year.
  • In the past 5 years MORG has always been profitable.
  • The reported operating cash flow has been mixed in the past 5 years: MORG reported negative operating cash flow in multiple years.
MORG.OL Yearly Net Income VS EBIT VS OCF VS FCFMORG.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 2B -2B

1.2 Ratios

  • With a Return On Assets value of 0.44%, MORG is not doing good in the industry: 75.93% of the companies in the same industry are doing better.
  • With a Return On Equity value of 5.26%, MORG is not doing good in the industry: 72.22% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA 0.44%
ROE 5.26%
ROIC N/A
ROA(3y)0.5%
ROA(5y)0.45%
ROE(3y)5.57%
ROE(5y)4.97%
ROIC(3y)N/A
ROIC(5y)N/A
MORG.OL Yearly ROA, ROE, ROICMORG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6

1.3 Margins

  • With a Profit Margin value of 11.62%, MORG is not doing good in the industry: 89.81% of the companies in the same industry are doing better.
  • MORG's Profit Margin has been stable in the last couple of years.
  • The Operating Margin and Gross Margin are not available for MORG so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 11.62%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y14.93%
PM growth 5Y-1.11%
GM growth 3YN/A
GM growth 5YN/A
MORG.OL Yearly Profit, Operating, Gross MarginsMORG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • MORG does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for MORG has been increased compared to 1 year ago.
  • MORG has more shares outstanding than it did 5 years ago.
  • MORG has a worse debt/assets ratio than last year.
MORG.OL Yearly Shares OutstandingMORG.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
MORG.OL Yearly Total Debt VS Total AssetsMORG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B 100B

2.2 Solvency

  • MORG has a debt to FCF ratio of 15.79. This is a negative value and a sign of low solvency as MORG would need 15.79 years to pay back of all of its debts.
  • MORG's Debt to FCF ratio of 15.79 is fine compared to the rest of the industry. MORG outperforms 72.22% of its industry peers.
  • MORG has a Debt/Equity ratio of 4.65. This is a high value indicating a heavy dependency on external financing.
  • MORG's Debt to Equity ratio of 4.65 is on the low side compared to the rest of the industry. MORG is outperformed by 91.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 4.65
Debt/FCF 15.79
Altman-Z N/A
ROIC/WACCN/A
WACC5.3%
MORG.OL Yearly LT Debt VS Equity VS FCFMORG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B 30B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MORG.OL Yearly Current Assets VS Current LiabilitesMORG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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

3

3. Growth

3.1 Past

  • MORG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -21.25%.
  • MORG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.75% yearly.
  • The Revenue has grown by 14.17% in the past year. This is quite good.
  • Measured over the past years, MORG shows a quite strong growth in Revenue. The Revenue has been growing by 9.84% on average per year.
EPS 1Y (TTM)-21.25%
EPS 3Y17.45%
EPS 5Y7.75%
EPS Q2Q%-9.77%
Revenue 1Y (TTM)14.17%
Revenue growth 3Y3.25%
Revenue growth 5Y9.84%
Sales Q2Q%-2.08%

3.2 Future

  • Based on estimates for the next years, MORG will show a decrease in Earnings Per Share. The EPS will decrease by -0.03% on average per year.
  • The Revenue is expected to grow by 1.52% on average over the next years.
EPS Next Y-5.07%
EPS Next 2Y-1.82%
EPS Next 3Y-0.03%
EPS Next 5YN/A
Revenue Next Year-1.22%
Revenue Next 2Y0.63%
Revenue Next 3Y1.52%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
MORG.OL Yearly Revenue VS EstimatesMORG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
MORG.OL Yearly EPS VS EstimatesMORG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

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Find the best growth stocksShow best growing peers

4

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 12.84, MORG is valued correctly.
  • Based on the Price/Earnings ratio, MORG is valued a bit more expensive than 71.30% of the companies in the same industry.
  • MORG is valuated cheaply when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 11.81, the valuation of MORG can be described as reasonable.
  • MORG's Price/Forward Earnings ratio is in line with the industry average.
  • MORG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.02.
Industry RankSector Rank
PE 12.84
Fwd PE 11.81
MORG.OL Price Earnings VS Forward Price EarningsMORG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 94.44% of the companies in the same industry are more expensive than MORG, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 2.11
EV/EBITDA N/A
MORG.OL Per share dataMORG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 50 100 150

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)1.66
EPS Next 2Y-1.82%
EPS Next 3Y-0.03%

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

7

5. Dividend

5.1 Amount

  • MORG has a Yearly Dividend Yield of 6.19%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.37, MORG pays a better dividend. On top of this MORG pays more dividend than 80.56% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.81, MORG pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.19%

5.2 History

  • On average, the dividend of MORG grows each year by 19.19%, which is quite nice.
Dividend Growth(5Y)19.19%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 65.05% of the earnings are spent on dividend by MORG. This is not a sustainable payout ratio.
  • MORG's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP65.05%
EPS Next 2Y-1.82%
EPS Next 3Y-0.03%
MORG.OL Yearly Income VS Free CF VS DividendMORG.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
MORG.OL Dividend Payout.MORG.OL Dividend Payout, showing the Payout Ratio.MORG.OL Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

SPAREBANKEN MORE-CAP CERT

OSL:MORG (2/20/2026, 7:00:00 PM)

113.26

+0.26 (+0.23%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29
Earnings (Next)04-30
Inst Owners26.21%
Inst Owner ChangeN/A
Ins Owners0.72%
Ins Owner ChangeN/A
Market Cap5.64B
Revenue(TTM)4.12B
Net Income(TTM)478.13M
Analysts76
Price Target115.94 (2.37%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.19%
Yearly Dividend7.51
Dividend Growth(5Y)19.19%
DP65.05%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-2.84%
Min EPS beat(2)-4.74%
Max EPS beat(2)-0.94%
EPS beat(4)0
Avg EPS beat(4)-8.45%
Min EPS beat(4)-14.22%
Max EPS beat(4)-0.94%
EPS beat(8)3
Avg EPS beat(8)-2.26%
EPS beat(12)5
Avg EPS beat(12)-2.93%
EPS beat(16)6
Avg EPS beat(16)16.05%
Revenue beat(2)0
Avg Revenue beat(2)-0.32%
Min Revenue beat(2)-0.42%
Max Revenue beat(2)-0.23%
Revenue beat(4)0
Avg Revenue beat(4)-3.13%
Min Revenue beat(4)-6.28%
Max Revenue beat(4)-0.23%
Revenue beat(8)1
Avg Revenue beat(8)-2.28%
Revenue beat(12)3
Avg Revenue beat(12)-1.44%
Revenue beat(16)4
Avg Revenue beat(16)-0.91%
PT rev (1m)3.02%
PT rev (3m)4.28%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)2.43%
Revenue NQ rev (1m)0.08%
Revenue NQ rev (3m)1.31%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)1.29%
Valuation
Industry RankSector Rank
PE 12.84
Fwd PE 11.81
P/S 1.37
P/FCF 2.11
P/OCF 1.99
P/B 0.62
P/tB 0.62
EV/EBITDA N/A
EPS(TTM)8.82
EY7.79%
EPS(NY)9.59
Fwd EY8.47%
FCF(TTM)53.73
FCFY47.44%
OCF(TTM)57.05
OCFY50.37%
SpS82.65
BVpS182.65
TBVpS181.45
PEG (NY)N/A
PEG (5Y)1.66
Graham Number190.39
Profitability
Industry RankSector Rank
ROA 0.44%
ROE 5.26%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 11.62%
GM N/A
FCFM 65.01%
ROA(3y)0.5%
ROA(5y)0.45%
ROE(3y)5.57%
ROE(5y)4.97%
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 3Y14.93%
PM growth 5Y-1.11%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 4.65
Debt/FCF 15.79
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 4.01%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 559.68%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC5.3%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)1.92%
Cap/Sales(5y)1.62%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-21.25%
EPS 3Y17.45%
EPS 5Y7.75%
EPS Q2Q%-9.77%
EPS Next Y-5.07%
EPS Next 2Y-1.82%
EPS Next 3Y-0.03%
EPS Next 5YN/A
Revenue 1Y (TTM)14.17%
Revenue growth 3Y3.25%
Revenue growth 5Y9.84%
Sales Q2Q%-2.08%
Revenue Next Year-1.22%
Revenue Next 2Y0.63%
Revenue Next 3Y1.52%
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 1Y179.69%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y185.68%
OCF growth 3YN/A
OCF growth 5YN/A

SPAREBANKEN MORE-CAP CERT / MORG.OL FAQ

What is the fundamental rating for MORG stock?

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


Can you provide the valuation status for SPAREBANKEN MORE-CAP CERT?

ChartMill assigns a valuation rating of 4 / 10 to SPAREBANKEN MORE-CAP CERT (MORG.OL). This can be considered as Fairly Valued.


Can you provide the profitability details for SPAREBANKEN MORE-CAP CERT?

SPAREBANKEN MORE-CAP CERT (MORG.OL) has a profitability rating of 2 / 10.


What is the valuation of SPAREBANKEN MORE-CAP CERT based on its PE and PB ratios?

The Price/Earnings (PE) ratio for SPAREBANKEN MORE-CAP CERT (MORG.OL) is 12.84 and the Price/Book (PB) ratio is 0.62.


How financially healthy is SPAREBANKEN MORE-CAP CERT?

The financial health rating of SPAREBANKEN MORE-CAP CERT (MORG.OL) is 1 / 10.