SPAREBANKEN NORGE (SBNOR.OL) Fundamental Analysis & Valuation

OSL:SBNOR • NO0006000900

Current stock price

201.2 NOK
-3.2 (-1.57%)
Last:

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

3

1. SBNOR.OL Profitability Analysis

1.1 Basic Checks

  • SBNOR had positive earnings in the past year.
  • In the past year SBNOR had a positive cash flow from operations.
  • SBNOR had positive earnings in each of the past 5 years.
  • SBNOR had a positive operating cash flow in each of the past 5 years.
SBNOR.OL Yearly Net Income VS EBIT VS OCF VS FCFSBNOR.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 2025 2B 4B 6B

1.2 Ratios

  • With a Return On Assets value of 0.45%, SBNOR is not doing good in the industry: 76.24% of the companies in the same industry are doing better.
  • SBNOR's Return On Equity of 4.92% is on the low side compared to the rest of the industry. SBNOR is outperformed by 74.26% of its industry peers.
Industry RankSector Rank
ROA 0.45%
ROE 4.92%
ROIC N/A
ROA(3y)0.49%
ROA(5y)0.47%
ROE(3y)6.11%
ROE(5y)5.71%
ROIC(3y)N/A
ROIC(5y)N/A
SBNOR.OL Yearly ROA, ROE, ROICSBNOR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6

1.3 Margins

  • The Profit Margin of SBNOR (20.70%) is worse than 61.39% of its industry peers.
  • SBNOR's Profit Margin has improved in the last couple of years.
  • SBNOR 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) 20.7%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y5.28%
PM growth 5Y10.23%
GM growth 3YN/A
GM growth 5YN/A
SBNOR.OL Yearly Profit, Operating, Gross MarginsSBNOR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

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1

2. SBNOR.OL Health Analysis

2.1 Basic Checks

  • SBNOR does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, SBNOR has more shares outstanding
  • The number of shares outstanding for SBNOR has been increased compared to 5 years ago.
  • SBNOR has a better debt/assets ratio than last year.
SBNOR.OL Yearly Shares OutstandingSBNOR.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
SBNOR.OL Yearly Total Debt VS Total AssetsSBNOR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100B 200B 300B 400B 500B

2.2 Solvency

  • The Debt to FCF ratio of SBNOR is 42.87, which is on the high side as it means it would take SBNOR, 42.87 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 42.87, SBNOR perfoms like the industry average, outperforming 55.45% of the companies in the same industry.
  • SBNOR has a Debt/Equity ratio of 5.49. This is a high value indicating a heavy dependency on external financing.
  • SBNOR has a Debt to Equity ratio of 5.49. This is amonst the worse of the industry: SBNOR underperforms 95.05% of its industry peers.
Industry RankSector Rank
Debt/Equity 5.49
Debt/FCF 42.87
Altman-Z N/A
ROIC/WACCN/A
WACC5.65%
SBNOR.OL Yearly LT Debt VS Equity VS FCFSBNOR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B 200B 250B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
SBNOR.OL Yearly Current Assets VS Current LiabilitesSBNOR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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

4

3. SBNOR.OL Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 2.22% over the past year.
  • The Earnings Per Share has been growing by 18.29% on average over the past years. This is quite good.
  • Looking at the last year, SBNOR shows a very strong growth in Revenue. The Revenue has grown by 56.50%.
  • Measured over the past years, SBNOR shows a quite strong growth in Revenue. The Revenue has been growing by 14.72% on average per year.
EPS 1Y (TTM)2.22%
EPS 3Y10.72%
EPS 5Y18.29%
EPS Q2Q%0.78%
Revenue 1Y (TTM)56.5%
Revenue growth 3Y25.98%
Revenue growth 5Y14.72%
Sales Q2Q%70.41%

3.2 Future

  • Based on estimates for the next years, SBNOR will show a decrease in Earnings Per Share. The EPS will decrease by -0.74% on average per year.
  • The Revenue is expected to grow by 4.40% on average over the next years.
EPS Next Y-3.54%
EPS Next 2Y-2.09%
EPS Next 3Y-0.74%
EPS Next 5YN/A
Revenue Next Year0.49%
Revenue Next 2Y5.69%
Revenue Next 3Y4.4%
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.
SBNOR.OL Yearly Revenue VS EstimatesSBNOR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5B 10B
SBNOR.OL Yearly EPS VS EstimatesSBNOR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5 10 15

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4

4. SBNOR.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 11.82, which indicates a very decent valuation of SBNOR.
  • Compared to the rest of the industry, the Price/Earnings ratio of SBNOR is on the same level as its industry peers.
  • When comparing the Price/Earnings ratio of SBNOR to the average of the S&P500 Index (26.64), we can say SBNOR is valued rather cheaply.
  • The Price/Forward Earnings ratio is 12.25, which indicates a correct valuation of SBNOR.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SBNOR indicates a slightly more expensive valuation: SBNOR is more expensive than 67.33% of the companies listed in the same industry.
  • SBNOR's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.36.
Industry RankSector Rank
PE 11.82
Fwd PE 12.25
SBNOR.OL Price Earnings VS Forward Price EarningsSBNOR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Price/Free Cash Flow ratio, SBNOR is valued cheaper than 81.19% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.08
EV/EBITDA N/A
SBNOR.OL Per share dataSBNOR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 100 200 300

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)0.65
EPS Next 2Y-2.09%
EPS Next 3Y-0.74%

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

6

5. SBNOR.OL Dividend Analysis

5.1 Amount

  • SBNOR has a Yearly Dividend Yield of 5.96%, which is a nice return.
  • SBNOR's Dividend Yield is a higher than the industry average which is at 4.51.
  • Compared to an average S&P500 Dividend Yield of 1.80, SBNOR pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.96%

5.2 History

  • On average, the dividend of SBNOR grows each year by 14.56%, which is quite nice.
Dividend Growth(5Y)14.56%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 88.11% of the earnings are spent on dividend by SBNOR. This is not a sustainable payout ratio.
  • SBNOR's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP88.11%
EPS Next 2Y-2.09%
EPS Next 3Y-0.74%
SBNOR.OL Yearly Income VS Free CF VS DividendSBNOR.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B
SBNOR.OL Dividend Payout.SBNOR.OL Dividend Payout, showing the Payout Ratio.SBNOR.OL Dividend Payout.PayoutRetained Earnings

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SBNOR.OL Fundamentals: All Metrics, Ratios and Statistics

SPAREBANKEN NORGE

OSL:SBNOR (4/30/2026, 7:00:00 PM)

201.2

-3.2 (-1.57%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Industry StrengthN/A
Industry GrowthN/A
Earnings (Last)04-30
Earnings (Next)08-11
Inst Owners26.57%
Inst Owner ChangeN/A
Ins Owners0.53%
Ins Owner ChangeN/A
Market Cap34.87B
Revenue(TTM)12.73B
Net Income(TTM)2.64B
Analysts75.71
Price Target205.79 (2.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.96%
Yearly Dividend16.42
Dividend Growth(5Y)14.56%
DP88.11%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.96%
Min EPS beat(2)3.27%
Max EPS beat(2)6.66%
EPS beat(4)4
Avg EPS beat(4)8.54%
Min EPS beat(4)3.27%
Max EPS beat(4)18.92%
EPS beat(8)7
Avg EPS beat(8)6.56%
EPS beat(12)9
Avg EPS beat(12)4.92%
EPS beat(16)12
Avg EPS beat(16)12.35%
Revenue beat(2)1
Avg Revenue beat(2)1.23%
Min Revenue beat(2)-1.56%
Max Revenue beat(2)4.02%
Revenue beat(4)2
Avg Revenue beat(4)-1.95%
Min Revenue beat(4)-13.13%
Max Revenue beat(4)4.02%
Revenue beat(8)5
Avg Revenue beat(8)1.11%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.62%
PT rev (3m)9.8%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.5%
EPS NY rev (3m)1.89%
Revenue NQ rev (1m)-1.09%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-7.64%
Valuation
Industry RankSector Rank
PE 11.82
Fwd PE 12.25
P/S 2.74
P/FCF 5.08
P/OCF 5.02
P/B 0.65
P/tB 0.74
EV/EBITDA N/A
EPS(TTM)17.02
EY8.46%
EPS(NY)16.42
Fwd EY8.16%
FCF(TTM)39.59
FCFY19.68%
OCF(TTM)40.09
OCFY19.93%
SpS73.45
BVpS309.06
TBVpS273.24
PEG (NY)N/A
PEG (5Y)0.65
Graham Number344.027 (70.99%)
Profitability
Industry RankSector Rank
ROA 0.45%
ROE 4.92%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 20.7%
GM N/A
FCFM 53.9%
ROA(3y)0.49%
ROA(5y)0.47%
ROE(3y)6.11%
ROE(5y)5.71%
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 3Y5.28%
PM growth 5Y10.23%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 5.49
Debt/FCF 42.87
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 0.69%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 260.31%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score5
WACC5.65%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)1%
Cap/Sales(5y)1.26%
Profit Quality(3y)248.74%
Profit Quality(5y)230.39%
High Growth Momentum
Growth
EPS 1Y (TTM)2.22%
EPS 3Y10.72%
EPS 5Y18.29%
EPS Q2Q%0.78%
EPS Next Y-3.54%
EPS Next 2Y-2.09%
EPS Next 3Y-0.74%
EPS Next 5YN/A
Revenue 1Y (TTM)56.5%
Revenue growth 3Y25.98%
Revenue growth 5Y14.72%
Sales Q2Q%70.41%
Revenue Next Year0.49%
Revenue Next 2Y5.69%
Revenue Next 3Y4.4%
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 1Y57.48%
FCF growth 3Y44.83%
FCF growth 5Y33.9%
OCF growth 1Y56.91%
OCF growth 3Y42.9%
OCF growth 5Y31.92%

SPAREBANKEN NORGE / SBNOR.OL Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for SPAREBANKEN NORGE?

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


What is the valuation status for SBNOR stock?

ChartMill assigns a valuation rating of 4 / 10 to SPAREBANKEN NORGE (SBNOR.OL). This can be considered as Fairly Valued.


How profitable is SPAREBANKEN NORGE (SBNOR.OL) stock?

SPAREBANKEN NORGE (SBNOR.OL) has a profitability rating of 3 / 10.


Can you provide the financial health for SBNOR stock?

The financial health rating of SPAREBANKEN NORGE (SBNOR.OL) is 1 / 10.


Can you provide the expected EPS growth for SBNOR stock?

The Earnings per Share (EPS) of SPAREBANKEN NORGE (SBNOR.OL) is expected to decline by -3.54% in the next year.