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SELVAAG BOLIG ASA (SBO.OL) Stock Fundamental Analysis

OSL:SBO - Euronext Oslo - NO0010612450 - Common Stock - Currency: NOK

35.325  -0.37 (-1.05%)

Fundamental Rating

3

Overall SBO gets a fundamental rating of 3 out of 10. We evaluated SBO against 70 industry peers in the Real Estate Management & Development industry. While SBO is still in line with the averages on profitability rating, there are concerns on its financial health. SBO is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year SBO was profitable.
SBO had a negative operating cash flow in the past year.
In the past 5 years SBO has always been profitable.
In the past 5 years SBO always reported a positive cash flow from operatings.
SBO.OL Yearly Net Income VS EBIT VS OCF VS FCFSBO.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 500M 1B 1.5B

1.2 Ratios

The Return On Assets of SBO (1.65%) is better than 67.14% of its industry peers.
SBO has a Return On Equity of 4.23%. This is in the better half of the industry: SBO outperforms 68.57% of its industry peers.
With a Return On Invested Capital value of 0.85%, SBO perfoms like the industry average, outperforming 51.43% of the companies in the same industry.
SBO had an Average Return On Invested Capital over the past 3 years of 4.82%. This is in line with the industry average of 3.86%.
Industry RankSector Rank
ROA 1.65%
ROE 4.23%
ROIC 0.85%
ROA(3y)4.76%
ROA(5y)9.7%
ROE(3y)10.85%
ROE(5y)23.15%
ROIC(3y)4.82%
ROIC(5y)6.64%
SBO.OL Yearly ROA, ROE, ROICSBO.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

1.3 Margins

Looking at the Profit Margin, with a value of 6.62%, SBO is in the better half of the industry, outperforming 61.43% of the companies in the same industry.
In the last couple of years the Profit Margin of SBO has declined.
SBO has a Operating Margin (3.41%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of SBO has declined.
SBO has a Gross Margin of 20.86%. This is in the lower half of the industry: SBO underperforms 61.43% of its industry peers.
SBO's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 3.41%
PM (TTM) 6.62%
GM 20.86%
OM growth 3Y-26.1%
OM growth 5Y-23.14%
PM growth 3Y-15.43%
PM growth 5Y-14.31%
GM growth 3Y-4.94%
GM growth 5Y-9.32%
SBO.OL Yearly Profit, Operating, Gross MarginsSBO.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SBO is destroying value.
Compared to 1 year ago, SBO has about the same amount of shares outstanding.
The number of shares outstanding for SBO has been increased compared to 5 years ago.
Compared to 1 year ago, SBO has a worse debt to assets ratio.
SBO.OL Yearly Shares OutstandingSBO.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
SBO.OL Yearly Total Debt VS Total AssetsSBO.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

Based on the Altman-Z score of 1.37, we must say that SBO is in the distress zone and has some risk of bankruptcy.
SBO has a better Altman-Z score (1.37) than 70.00% of its industry peers.
A Debt/Equity ratio of 0.79 indicates that SBO is somewhat dependend on debt financing.
SBO's Debt to Equity ratio of 0.79 is in line compared to the rest of the industry. SBO outperforms 52.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF N/A
Altman-Z 1.37
ROIC/WACC0.12
WACC7.03%
SBO.OL Yearly LT Debt VS Equity VS FCFSBO.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

A Current Ratio of 2.39 indicates that SBO has no problem at all paying its short term obligations.
The Current ratio of SBO (2.39) is better than 74.29% of its industry peers.
A Quick Ratio of 0.21 indicates that SBO may have some problems paying its short term obligations.
The Quick ratio of SBO (0.21) is worse than 75.71% of its industry peers.
Industry RankSector Rank
Current Ratio 2.39
Quick Ratio 0.21
SBO.OL Yearly Current Assets VS Current LiabilitesSBO.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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4

3. Growth

3.1 Past

SBO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -57.59%.
SBO shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -23.13% yearly.
Looking at the last year, SBO shows a very negative growth in Revenue. The Revenue has decreased by -52.03% in the last year.
The Revenue for SBO have been decreasing by -10.17% on average. This is quite bad
EPS 1Y (TTM)-57.59%
EPS 3Y-29.56%
EPS 5Y-23.13%
EPS Q2Q%-136.67%
Revenue 1Y (TTM)-52.03%
Revenue growth 3Y-16.64%
Revenue growth 5Y-10.17%
Sales Q2Q%-75.95%

3.2 Future

SBO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.40% yearly.
Based on estimates for the next years, SBO will show a quite strong growth in Revenue. The Revenue will grow by 14.39% on average per year.
EPS Next Y-37.38%
EPS Next 2Y17.21%
EPS Next 3Y10.4%
EPS Next 5YN/A
Revenue Next Year-3.97%
Revenue Next 2Y29.67%
Revenue Next 3Y14.39%
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.
SBO.OL Yearly Revenue VS EstimatesSBO.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B
SBO.OL Yearly EPS VS EstimatesSBO.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 32.71, which means the current valuation is very expensive for SBO.
Compared to the rest of the industry, the Price/Earnings ratio of SBO is on the same level as its industry peers.
SBO's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.28.
SBO is valuated correctly with a Price/Forward Earnings ratio of 12.69.
Based on the Price/Forward Earnings ratio, SBO is valued a bit cheaper than 71.43% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of SBO to the average of the S&P500 Index (21.76), we can say SBO is valued slightly cheaper.
Industry RankSector Rank
PE 32.71
Fwd PE 12.69
SBO.OL Price Earnings VS Forward Price EarningsSBO.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SBO is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 81.2
SBO.OL Per share dataSBO.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y17.21%
EPS Next 3Y10.4%

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3

5. Dividend

5.1 Amount

SBO has a Yearly Dividend Yield of 3.59%.
Compared to an average industry Dividend Yield of 7.93, SBO pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, SBO pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.59%

5.2 History

The dividend of SBO decreases each year by -26.04%.
Dividend Growth(5Y)-26.04%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

SBO pays out 93.65% of its income as dividend. This is not a sustainable payout ratio.
DP93.65%
EPS Next 2Y17.21%
EPS Next 3Y10.4%
SBO.OL Yearly Income VS Free CF VS DividendSBO.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
SBO.OL Dividend Payout.SBO.OL Dividend Payout, showing the Payout Ratio.SBO.OL Dividend Payout.PayoutRetained Earnings

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SELVAAG BOLIG ASA

OSL:SBO (7/2/2025, 3:50:02 PM)

35.325

-0.37 (-1.05%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryReal Estate Management & Development
Earnings (Last)05-21 2025-05-21/bmo
Earnings (Next)08-07 2025-08-07
Inst Owners19.43%
Inst Owner ChangeN/A
Ins Owners7.59%
Ins Owner ChangeN/A
Market Cap3.31B
Analysts48.89
Price Target37.06 (4.91%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.59%
Yearly Dividend1
Dividend Growth(5Y)-26.04%
DP93.65%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-74.29%
Min EPS beat(2)-117.82%
Max EPS beat(2)-30.76%
EPS beat(4)1
Avg EPS beat(4)-39.76%
Min EPS beat(4)-147.52%
Max EPS beat(4)137.07%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-12.44%
Min Revenue beat(2)-20.27%
Max Revenue beat(2)-4.6%
Revenue beat(4)1
Avg Revenue beat(4)-0.35%
Min Revenue beat(4)-20.27%
Max Revenue beat(4)37.8%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)7.92%
PT rev (3m)7.92%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.05%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.34%
Valuation
Industry RankSector Rank
PE 32.71
Fwd PE 12.69
P/S 2.19
P/FCF N/A
P/OCF N/A
P/B 1.4
P/tB 1.67
EV/EBITDA 81.2
EPS(TTM)1.08
EY3.06%
EPS(NY)2.78
Fwd EY7.88%
FCF(TTM)-11.73
FCFYN/A
OCF(TTM)-11.72
OCFYN/A
SpS16.11
BVpS25.23
TBVpS21.14
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 1.65%
ROE 4.23%
ROCE 1.25%
ROIC 0.85%
ROICexc 0.91%
ROICexgc 0.99%
OM 3.41%
PM (TTM) 6.62%
GM 20.86%
FCFM N/A
ROA(3y)4.76%
ROA(5y)9.7%
ROE(3y)10.85%
ROE(5y)23.15%
ROIC(3y)4.82%
ROIC(5y)6.64%
ROICexc(3y)5.33%
ROICexc(5y)7.66%
ROICexgc(3y)5.91%
ROICexgc(5y)8.54%
ROCE(3y)6.74%
ROCE(5y)9.57%
ROICexcg growth 3Y-40.34%
ROICexcg growth 5Y-33.62%
ROICexc growth 3Y-40.15%
ROICexc growth 5Y-33.35%
OM growth 3Y-26.1%
OM growth 5Y-23.14%
PM growth 3Y-15.43%
PM growth 5Y-14.31%
GM growth 3Y-4.94%
GM growth 5Y-9.32%
F-Score3
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF N/A
Debt/EBITDA 30.96
Cap/Depr 14.12%
Cap/Sales 0.09%
Interest Coverage 1.11
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.39
Quick Ratio 0.21
Altman-Z 1.37
F-Score3
WACC7.03%
ROIC/WACC0.12
Cap/Depr(3y)36.29%
Cap/Depr(5y)28.55%
Cap/Sales(3y)0.14%
Cap/Sales(5y)0.11%
Profit Quality(3y)184.13%
Profit Quality(5y)147.17%
High Growth Momentum
Growth
EPS 1Y (TTM)-57.59%
EPS 3Y-29.56%
EPS 5Y-23.13%
EPS Q2Q%-136.67%
EPS Next Y-37.38%
EPS Next 2Y17.21%
EPS Next 3Y10.4%
EPS Next 5YN/A
Revenue 1Y (TTM)-52.03%
Revenue growth 3Y-16.64%
Revenue growth 5Y-10.17%
Sales Q2Q%-75.95%
Revenue Next Year-3.97%
Revenue Next 2Y29.67%
Revenue Next 3Y14.39%
Revenue Next 5YN/A
EBIT growth 1Y-80.83%
EBIT growth 3Y-38.4%
EBIT growth 5Y-30.96%
EBIT Next Year-33.22%
EBIT Next 3Y13.39%
EBIT Next 5YN/A
FCF growth 1Y-369.44%
FCF growth 3Y-40.46%
FCF growth 5Y-39.09%
OCF growth 1Y-367.07%
OCF growth 3Y-39.47%
OCF growth 5Y-38.45%