K15 Stock Overview

A savings bank, provides various banking products and services to companies, agriculture customers, and private individuals in Norway. More details

K15 fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	3/6
Past Performance	2/6
Financial Health	3/6
Dividends	3/6

Rewards

Trading at 77.7% below our estimate of its fair value

Earnings are forecast to grow 60.81% per year

Risk Analysis

Profit margins (10.9%) are lower than last year (16.4%)

Does not have a meaningful market cap (€450M)

Dividend of 7.72% is either not well covered by earnings currently or not forecast to be covered

My Notes

Capture your thoughts, links and company narrative

Melhus Sparebank Competitors

Merkur PrivatBank KgaA

XTRA:MBK

€115.1m

Chino Commercial Bancorp

OTCPK:CCBC

US$43.5m

Sturgis Bancorp

OTCPK:STBI

US$39.4m

PB Bankshares

NasdaqCM:PBBK

US$36.0m

Price History & Performance

Summary of share price highs, lows and changes for Melhus Sparebank
Historical stock prices
Current Share Price	NOK 13.60
52 Week High	NOK 14.46
52 Week Low	NOK 12.66
Beta	0.19
1 Month Change	1.67%
3 Month Change	4.18%
1 Year Change	-3.55%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-11.17%

Recent updates

Shareholder Returns

	K15	DE Banks	DE Market
7D	-0.2%	2.1%	1.3%
1Y	-3.5%	23.2%	9.0%

Return vs Industry: K15 underperformed the German Banks industry which returned 24% over the past year.

Return vs Market: K15 underperformed the German Market which returned 10.1% over the past year.

Price Volatility

Is K15's price volatile compared to industry and market?
K15 volatility
K15 Average Weekly Movement	1.8%
Banks Industry Average Movement	3.2%
Market Average Movement	4.9%
10% most volatile stocks in DE Market	11.6%
10% least volatile stocks in DE Market	2.4%

Stable Share Price: K15 has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: K15's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1840	69	Ragnar Torland	www.melhusbanken.no

Melhus Sparebank, a savings bank, provides various banking products and services to companies, agriculture customers, and private individuals in Norway. The company offers savings accounts; construction and business loans; mortgage, and car loans; bank guarantee, overdraft, and leasing services; and credit and bank cards. It also provides various insurance products for home, cottage, household goods, contents, drone, car, boat, other vehicles, travel, animal, children, death, health, critical illness, disabled, private, commercial, agricultural, and accident; savings and pension products; payment services; and online and mobile banking services.

Melhus Sparebank Fundamentals Summary

How do Melhus Sparebank's earnings and revenue compare to its market cap?
K15 fundamental statistics
Market cap	€38.27m
Earnings (TTM)	€3.07m
Revenue (TTM)	€28.28m

12.4x

P/E Ratio

0.3x

P/B Ratio

Is K15 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
K15 income statement (TTM)
Revenue	NOK 332.40m
Cost of Revenue	NOK 0
Gross Profit	NOK 332.40m
Other Expenses	NOK 296.26m
Earnings	NOK 36.13m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	13.01
Gross Margin	100.00%
Net Profit Margin	10.87%
Debt/Equity Ratio	151.4%

How did K15 perform over the long term?

See historical performance and comparison

Dividends

7.7%

Current Dividend Yield

98%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/10 04:11
End of Day Share Price	2025/01/10 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Melhus Sparebank is covered by 2 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Žilvinas Jusaitis	Norne Securities AS
Vegard Toverud	Pareto Securities