MORG Fundamental Analysis - SPAREBANKEN MORE-CAP CERT

Fundamental Rating

Overall MORG gets a fundamental rating of 2 out of 10. We evaluated MORG against 97 industry peers in the Banks industry. MORG has a bad profitability rating. Also its financial health evaluation is rather negative. MORG is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year MORG was profitable.

In the past year MORG has reported a negative cash flow from operations.

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

The reported operating cash flow has been mixed in the past 5 years: MORG reported negative operating cash flow in multiple years.

1.2 Ratios

With a Return On Assets value of 0.50%, MORG is not doing good in the industry: 62.89% of the companies in the same industry are doing better.

With a Return On Equity value of 5.63%, MORG is not doing good in the industry: 69.07% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
ROA	0.5%
ROE	5.63%
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

1.3 Margins

MORG's Profit Margin of 12.30% is on the low side compared to the rest of the industry. MORG is outperformed by 82.47% of its industry peers.

In the last couple of years the Profit Margin of MORG has remained more or less at the same level.

MORG 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)	12.3%
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

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ROA

ROE

ROIC

Operating and Profit Margin

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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.

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

2.2 Solvency

A Debt/Equity ratio of 4.31 is on the high side and indicates that MORG has dependencies on debt financing.

The Debt to Equity ratio of MORG (4.31) is worse than 84.54% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	4.31
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC5.18%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The earnings per share for MORG have decreased by -8.51% in the last year.

Measured over the past 5 years, MORG shows a small growth in Earnings Per Share. The EPS has been growing by 7.75% on average per year.

Looking at the last year, MORG shows a very strong growth in Revenue. The Revenue has grown by 63.36%.

MORG shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.84% yearly.

EPS 1Y (TTM)-8.51%

EPS 3Y17.45%

EPS 5Y7.75%

EPS Q2Q%-11.62%

Revenue 1Y (TTM)63.36%

Revenue growth 3Y3.25%

Revenue growth 5Y9.84%

Sales Q2Q%-1.9%

3.2 Future

MORG is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 1.08% yearly.

Based on estimates for the next years, MORG will show a small growth in Revenue. The Revenue will grow by 2.30% on average per year.

EPS Next Y-0.6%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

EPS Next 5YN/A

Revenue Next Year1.3%

Revenue Next 2Y0.49%

Revenue Next 3Y2.3%

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

A Price/Earnings ratio of 10.60 indicates a reasonable valuation of MORG.

Compared to the rest of the industry, the Price/Earnings ratio of MORG indicates a slightly more expensive valuation: MORG is more expensive than 70.10% of the companies listed in the same industry.

When comparing the Price/Earnings ratio of MORG to the average of the S&P500 Index (26.35), we can say MORG is valued rather cheaply.

The Price/Forward Earnings ratio is 10.87, which indicates a very decent valuation of MORG.

MORG's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. MORG is more expensive than 63.92% of the companies in the same industry.

The average S&P500 Price/Forward Earnings ratio is at 22.19. MORG is valued rather cheaply when compared to this.

		Industry Rank	Sector Rank
PE	10.6
Fwd PE	10.87

4.2 Price Multiples

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

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)1.37

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

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5. Dividend

5.1 Amount

MORG has a Yearly Dividend Yield of 6.16%, which is a nice return.

Compared to an average industry Dividend Yield of 5.13, MORG pays a bit more dividend than its industry peers.

MORG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.

		Industry Rank	Sector Rank
Dividend Yield	6.16%

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

MORG pays out 71.22% of its income as dividend. This is not a sustainable payout ratio.

MORG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.

DP71.22%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

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SPAREBANKEN MORE-CAP CERT

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

102.5

+1.04 (+1.03%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)04-30 2025-04-30/bmo

Earnings (Next)08-14 2025-08-14

Inst Owners27.58%

Inst Owner ChangeN/A

Ins Owners0.32%

Ins Owner ChangeN/A

Market Cap5.10B

Analysts74.55

Price Target104.38 (1.83%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	6.16%

Yearly Dividend7.51

Dividend Growth(5Y)19.19%

DP71.22%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-14.05%

Min EPS beat(2)-14.22%

Max EPS beat(2)-13.89%

EPS beat(4)2

Avg EPS beat(4)-2.44%

Min EPS beat(4)-14.22%

Max EPS beat(4)14.05%

EPS beat(8)4

Avg EPS beat(8)-2.35%

EPS beat(12)5

Avg EPS beat(12)-2.87%

EPS beat(16)7

Avg EPS beat(16)16.58%

Revenue beat(2)0

Avg Revenue beat(2)-5.95%

Min Revenue beat(2)-6.28%

Max Revenue beat(2)-5.61%

Revenue beat(4)1

Avg Revenue beat(4)-2.93%

Min Revenue beat(4)-6.28%

Max Revenue beat(4)2.34%

Revenue beat(8)2

Avg Revenue beat(8)-2.29%

Revenue beat(12)4

Avg Revenue beat(12)-0.84%

Revenue beat(16)5

Avg Revenue beat(16)-0.95%

PT rev (1m)3.37%

PT rev (3m)2.85%

EPS NQ rev (1m)0%

EPS NQ rev (3m)0.6%

EPS NY rev (1m)0%

EPS NY rev (3m)1.44%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)0.4%

Revenue NY rev (1m)0%

Revenue NY rev (3m)0%

Valuation

		Industry Rank	Sector Rank
PE	10.6
Fwd PE	10.87
P/S	1.21
P/FCF	N/A
P/OCF	N/A
P/B	0.55
P/tB	0.55
EV/EBITDA	N/A

EPS(TTM)9.67

EY9.43%

EPS(NY)9.43

Fwd EY9.2%

FCF(TTM)-16.91

FCFYN/A

OCF(TTM)-15.28

OCFYN/A

SpS85.06

BVpS185.9

TBVpS184.7

PEG (NY)N/A

PEG (5Y)1.37

Profitability

		Industry Rank	Sector Rank
ROA	0.5%
ROE	5.63%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	12.3%
GM	N/A
FCFM	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

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 3Y14.93%

PM growth 5Y-1.11%

GM growth 3YN/A

GM growth 5YN/A

F-Score3

Asset Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	4.31
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	N/A
Cap/Sales	1.91%
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

WACC5.18%

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)-8.51%

EPS 3Y17.45%

EPS 5Y7.75%

EPS Q2Q%-11.62%

EPS Next Y-0.6%

EPS Next 2Y-2.63%

EPS Next 3Y1.08%

EPS Next 5YN/A

Revenue 1Y (TTM)63.36%

Revenue growth 3Y3.25%

Revenue growth 5Y9.84%

Sales Q2Q%-1.9%

Revenue Next Year1.3%

Revenue Next 2Y0.49%

Revenue Next 3Y2.3%

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 1Y86.29%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y87.53%

OCF growth 3YN/A

OCF growth 5YN/A

SPAREBANKEN MORE-CAP CERT (MORG.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

More info and screens