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

OSL:MORG • NO0012483207

Current stock price

115.36 NOK
-1.34 (-1.15%)
Last:

This MORG.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

2

1. MORG.OL Profitability Analysis

1.1 Basic Checks

  • MORG had positive earnings in the past year.
  • MORG had a positive operating cash flow in the past year.
  • Each year in the past 5 years MORG has been profitable.
  • In multiple years MORG reported negative operating cash flow during the last 5 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: 77.88% of the companies in the same industry are doing better.
  • The Return On Equity of MORG (5.26%) is worse than 75.22% of its industry peers.
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

  • MORG has a worse Profit Margin (11.62%) than 87.61% of its industry peers.
  • 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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1

2. MORG.OL Health Analysis

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.
  • Compared to 5 years ago, MORG has more shares outstanding
  • 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

  • The Debt to FCF ratio of MORG is 15.79, which is on the high side as it means it would take MORG, 15.79 years of fcf income to pay off all of its debts.
  • MORG has a Debt to FCF ratio of 15.79. This is in the better half of the industry: MORG outperforms 69.91% of its industry peers.
  • A Debt/Equity ratio of 4.65 is on the high side and indicates that MORG has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 4.65, MORG is doing worse than 93.81% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 4.65
Debt/FCF 15.79
Altman-Z N/A
ROIC/WACCN/A
WACC5.33%
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. MORG.OL Growth Analysis

3.1 Past

  • MORG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -21.25%.
  • The Earnings Per Share has been growing slightly by 7.75% on average over the past years.
  • MORG shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.17%.
  • 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)-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

  • MORG is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.09% yearly.
  • Based on estimates for the next years, MORG will show a small growth in Revenue. The Revenue will grow by 1.52% on average per year.
EPS Next Y-4.7%
EPS Next 2Y-1.75%
EPS Next 3Y-0.09%
EPS Next 5YN/A
Revenue Next Year-1.22%
Revenue Next 2Y0.59%
Revenue Next 3Y1.52%
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 decreasing.
  • 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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3

4. MORG.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 13.08 indicates a correct valuation of MORG.
  • MORG's Price/Earnings ratio is rather expensive when compared to the industry. MORG is more expensive than 81.42% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of MORG to the average of the S&P500 Index (25.23), we can say MORG is valued slightly cheaper.
  • The Price/Forward Earnings ratio is 12.01, which indicates a correct valuation of MORG.
  • MORG's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. MORG is more expensive than 71.68% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of MORG to the average of the S&P500 Index (22.42), we can say MORG is valued slightly cheaper.
Industry RankSector Rank
PE 13.08
Fwd PE 12.01
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

  • MORG's Price/Free Cash Flow ratio is rather cheap when compared to the industry. MORG is cheaper than 87.61% of the companies in the same industry.
Industry RankSector Rank
P/FCF 2.15
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)1.69
EPS Next 2Y-1.75%
EPS Next 3Y-0.09%

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

6

5. MORG.OL Dividend Analysis

5.1 Amount

  • MORG has a Yearly Dividend Yield of 6.00%, which is a nice return.
  • MORG's Dividend Yield is a higher than the industry average which is at 4.75.
  • MORG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 6%

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-1.75%
EPS Next 3Y-0.09%
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

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MORG.OL Fundamentals: All Metrics, Ratios and Statistics

SPAREBANKEN MORE-CAP CERT

OSL:MORG (3/20/2026, 7:00:00 PM)

115.36

-1.34 (-1.15%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29
Earnings (Next)04-30
Inst Owners26.27%
Inst Owner ChangeN/A
Ins Owners0.72%
Ins Owner ChangeN/A
Market Cap5.74B
Revenue(TTM)4.12B
Net Income(TTM)478.13M
Analysts76
Price Target115.94 (0.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6%
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)0%
PT rev (3m)4.28%
EPS NQ rev (1m)9.94%
EPS NQ rev (3m)9.94%
EPS NY rev (1m)0.4%
EPS NY rev (3m)2.84%
Revenue NQ rev (1m)-1.05%
Revenue NQ rev (3m)0.25%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.04%
Valuation
Industry RankSector Rank
PE 13.08
Fwd PE 12.01
P/S 1.4
P/FCF 2.15
P/OCF 2.02
P/B 0.63
P/tB 0.64
EV/EBITDA N/A
EPS(TTM)8.82
EY7.65%
EPS(NY)9.61
Fwd EY8.33%
FCF(TTM)53.73
FCFY46.58%
OCF(TTM)57.05
OCFY49.45%
SpS82.65
BVpS182.65
TBVpS181.45
PEG (NY)N/A
PEG (5Y)1.69
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
WACC5.33%
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-4.7%
EPS Next 2Y-1.75%
EPS Next 3Y-0.09%
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 2Y0.59%
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 Fundamental Analysis FAQ

What is the fundamental rating for MORG stock?

ChartMill assigns a fundamental rating of 2 / 10 to MORG.OL.


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

ChartMill assigns a valuation rating of 3 / 10 to SPAREBANKEN MORE-CAP CERT (MORG.OL). This can be considered as Overvalued.


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 13.08 and the Price/Book (PB) ratio is 0.63.


How financially healthy is SPAREBANKEN MORE-CAP CERT?

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