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Storebrand

DB:SKT
Snowflake Description

Good value with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SKT
DB
NOK28B
Market Cap
  1. Home
  2. DE
  3. Insurance
Company description

Storebrand ASA, through its subsidiaries, primarily provides insurance products and services for private individuals, companies, municipalities, and public sector in Norway and Sweden. The last earnings update was 10 days ago. More info.


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SKT Share Price and Events
7 Day Returns
-3.1%
DB:SKT
0.5%
DE Insurance
-0.7%
DE Market
1 Year Returns
-11.3%
DB:SKT
21.2%
DE Insurance
-7.6%
DE Market
SKT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Storebrand (SKT) -3.1% -5.3% -17.8% -11.3% 82.1% 46.7%
DE Insurance 0.5% 2.1% 2.1% 21.2% 63% 61.1%
DE Market -0.7% -0.8% -3.8% -7.6% 8.2% 11.1%
1 Year Return vs Industry and Market
  • SKT underperformed the Insurance industry which returned 21.2% over the past year.
  • SKT underperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
SKT
Industry
5yr Volatility vs Market

Value

 Is Storebrand undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Storebrand to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Storebrand.

DB:SKT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= NOK70.69 * 7.7%
NOK5.42
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. NOK70.69
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:SKT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 23%) (99.54%))
1.141
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.141 * 5.96%)
7.03%

Discounted Cash Flow Calculation for DB:SKT using Excess Returns Model Model

The calculations below outline how an intrinsic value for Storebrand is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:SKT Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.7% – 7.03%) * NOK70.69)
NOK0.45
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NOK0.45 / (7.03% - 0.23%)
NOK6.68
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NOK70.69 + NOK6.68
NOK77.37
DB:SKT Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SKT represents 0.10313x of OB:STB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.10313x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (NOK) x Listing Adjustment Factor
= NOK 77.37 x 0.10313
€7.98
Value per share (EUR) From above. €7.98
Current discount Discount to share price of €6.20
= -1 x (€6.20 - €7.98) / €7.98
22.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Storebrand is available for.
Intrinsic value
22%
Share price is €6.2 vs Future cash flow value of €7.98
Current Discount Checks
For Storebrand to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Storebrand's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Storebrand's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Storebrand's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Storebrand's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SKT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK7.10
OB:STB Share Price ** OB (2019-07-22) in NOK NOK60.1
Germany Insurance Industry PE Ratio Median Figure of 6 Publicly-Listed Insurance Companies 13.38x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.75x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Storebrand.

DB:SKT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:STB Share Price ÷ EPS (both in NOK)

= 60.1 ÷ 7.10

8.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Storebrand is good value based on earnings compared to the DE Insurance industry average.
  • Storebrand is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Storebrand's expected growth come at a high price?
Raw Data
DB:SKT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
3%per year
Germany Insurance Industry PEG Ratio Median Figure of 5 Publicly-Listed Insurance Companies 3.16x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:SKT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.47x ÷ 3%

2.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Storebrand is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Storebrand's assets?
Raw Data
DB:SKT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK68.95
OB:STB Share Price * OB (2019-07-22) in NOK NOK60.1
Germany Insurance Industry PB Ratio Median Figure of 6 Publicly-Listed Insurance Companies 1.09x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.71x
DB:SKT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:STB Share Price ÷ Book Value per Share (both in NOK)

= 60.1 ÷ 68.95

0.87x

* Primary Listing of Storebrand.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Storebrand is good value based on assets compared to the DE Insurance industry average.
X
Value checks
We assess Storebrand's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Storebrand has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Storebrand expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Storebrand expected to grow at an attractive rate?
  • Storebrand's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Storebrand's earnings growth is positive but not above the Germany market average.
  • Storebrand's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SKT Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SKT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 3%
DB:SKT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -36.6%
Germany Insurance Industry Earnings Growth Rate Market Cap Weighted Average 4.6%
Germany Insurance Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:SKT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SKT Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 23,490 2,478 1
2020-12-31 22,794 2,349 1
2019-12-31 22,144 2,143 1
DB:SKT Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 63,661 684 3,316
2019-03-31 62,748 956 3,451
2018-12-31 40,413 1,310 3,684
2018-09-30 47,414 2,527 2,304
2018-06-30 45,275 2,195 2,476
2018-03-31 38,759 328 2,638
2017-12-31 47,362 739 2,375
2017-09-30 41,403 612 2,575
2017-06-30 45,370 1,672 2,318
2017-03-31 48,133 -990 2,277
2016-12-31 42,009 1,576 2,118
2016-09-30 50,819 -374 2,063

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Storebrand's earnings are expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
  • Storebrand's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:SKT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Storebrand Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SKT Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 5.13 5.60 4.36 7.00
2020-12-31 4.93 5.30 4.25 7.00
2019-12-31 4.52 4.64 4.27 7.00
DB:SKT Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 7.10
2019-03-31 7.39
2018-12-31 7.89
2018-09-30 4.97
2018-06-30 5.39
2018-03-31 5.80
2017-12-31 5.28
2017-09-30 5.74
2017-06-30 5.17
2017-03-31 5.08
2016-12-31 4.73
2016-09-30 4.61

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Storebrand is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Storebrand's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Storebrand has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Storebrand performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Storebrand's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Storebrand's year on year earnings growth rate has been positive over the past 5 years.
  • Storebrand's 1-year earnings growth exceeds its 5-year average (33.9% vs 15.7%)
  • Storebrand's earnings growth has exceeded the DE Insurance industry average in the past year (33.9% vs 9.4%).
Earnings and Revenue History
Storebrand's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Storebrand Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SKT Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 63,661.00 3,316.00 4,640.00
2019-03-31 62,748.00 3,451.00 4,540.00
2018-12-31 40,413.00 3,684.00 4,542.00
2018-09-30 47,414.00 2,304.00 4,695.00
2018-06-30 45,275.00 2,476.00 4,644.00
2018-03-31 38,759.00 2,638.00 4,420.00
2017-12-31 47,362.00 2,375.00 4,266.00
2017-09-30 41,403.00 2,575.00 4,086.00
2017-06-30 45,370.00 2,318.00 4,003.00
2017-03-31 48,133.00 2,277.00 3,765.00
2016-12-31 42,009.00 2,118.00 3,788.00
2016-09-30 50,819.00 2,063.00 3,636.00
2016-06-30 35,008.00 1,684.00 3,570.00
2016-03-31 23,958.00 1,234.00 3,800.00
2015-12-31 35,347.00 1,178.00 3,727.00
2015-09-30 33,220.00 1,255.00 2,961.00
2015-06-30 43,858.00 1,573.00 3,013.00
2015-03-31 58,578.00 1,804.00 3,012.00
2014-12-31 51,381.00 2,064.00 2,913.00
2014-09-30 58,116.00 1,770.00 3,094.00
2014-06-30 58,451.00 2,078.00 3,115.00
2014-03-31 47,782.00 2,124.00 3,147.00
2013-12-31 49,633.00 1,975.00 3,265.00
2013-09-30 51,039.00 1,642.00 3,747.00
2013-06-30 53,754.00 1,237.00 4,001.00
2013-03-31 53,506.00 840.00 4,007.00
2012-12-31 52,479.00 1,006.00 4,003.00
2012-09-30 52,256.00 954.00 3,886.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Storebrand has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Storebrand used its assets less efficiently than the DE Insurance industry average last year based on Return on Assets.
  • Storebrand has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Storebrand's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Storebrand has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Storebrand's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Storebrand's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Storebrand's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Storebrand's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Storebrand's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Storebrand Company Filings, last reported 3 weeks ago.

DB:SKT Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 32,240.00 26,845.00 4,812.00
2019-03-31 33,176.00 26,595.00 3,918.00
2018-12-31 32,873.00 25,755.00 3,951.00
2018-09-30 30,742.00 24,338.00 3,326.00
2018-06-30 30,227.00 23,764.00 3,436.00
2018-03-31 31,140.00 26,724.00 5,462.00
2017-12-31 30,832.00 25,597.00 3,779.00
2017-09-30 29,088.00 25,317.00 2,431.00
2017-06-30 28,558.00 24,912.00 3,484.00
2017-03-31 28,208.00 25,092.00 4,259.00
2016-12-31 27,637.00 24,910.00 3,966.00
2016-09-30 27,189.00 24,496.00 2,639.00
2016-06-30 27,001.00 24,813.00 3,381.00
2016-03-31 26,538.00 25,343.00 7,105.00
2015-12-31 26,947.00 23,657.00 3,132.00
2015-09-30 25,982.00 22,335.00 3,103.00
2015-06-30 25,276.00 21,140.00 3,100.00
2015-03-31 24,744.00 22,668.00 3,720.00
2014-12-31 24,740.00 21,831.00 5,473.00
2014-09-30 23,618.00 22,116.00 3,882.00
2014-06-30 23,528.00 22,345.00 4,430.00
2014-03-31 23,080.00 25,817.00 5,607.00
2013-12-31 22,775.00 25,437.00 4,219.00
2013-09-30 22,274.00 25,069.00 4,219.00
2013-06-30 21,301.00 25,115.00 4,609.00
2013-03-31 20,696.00 26,251.00 5,141.00
2012-12-31 19,935.00 27,607.00 3,552.00
2012-09-30 19,706.00 27,972.00 4,033.00
  • Storebrand's level of debt (83.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (95% vs 83.3% today).
  • Debt is not well covered by operating cash flow (2.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.4x coverage).
X
Financial health checks
We assess Storebrand's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Storebrand has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Storebrand's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.99%
Current annual income from Storebrand dividends. Estimated to be 7.19% next year.
If you bought €2,000 of Storebrand shares you are expected to receive €100 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Storebrand's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • Storebrand's dividend is above the markets top 25% of dividend payers in Germany (3.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:SKT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Germany Insurance Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:SKT Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 5.20 9.00
2020-12-31 4.24 10.00
2019-12-31 3.60 10.00
DB:SKT Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-22 3.000 4.481
2018-02-08 2.100 3.096
2017-02-08 1.550 2.501
2012-10-24 0.000 0.000
2012-07-13 0.000 0.000
2012-05-03 0.000 0.000
2012-03-21 0.000 0.000
2012-02-14 0.000 0.000
2011-03-02 1.100 3.022
2011-02-16 1.100 2.317
2009-10-28 0.000 0.000
2009-07-17 0.000 0.000
2009-05-06 0.000 0.000
2009-02-11 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Storebrand has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Storebrand only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Storebrand's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Storebrand's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Storebrand afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Storebrand has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Storebrand's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Odd Grefstad
COMPENSATION NOK8,208,000
AGE 54
TENURE AS CEO 7.1 years
CEO Bio

Mr. Odd Arild Grefstad has been Chief Executive Officer of Storebrand ASA since June 1, 2012 and also served as its Managing Director. Mr. Grefstad served as the Chairman of the Board of Directors at Skagen AS. Mr. Grefstad served as Managing Director of Storebrand Livsforsikring AS at Storebrand ASA since January 24, 2011. He was a Senior Employee of Storebrand Livsforsikring AS. Mr. Grefstad served as an Executive Vice President, Group Legal and Chief Financial Officer of Storebrand ASA until January 24, 2011 and served as its Head of Business Control from 1998 to 2002, Group Controller of Life Insurance from 1997 to 1998, Vice President of Internal Audit from 1994 to 1997, Acting Chief Executive Officer since June 1, 2012 and Managing Director of Storebrand Life Insurance. He served as Vice President of Internal Audit of Arthur Andersen & Co., from 1989 to 1994. He has been the Chairman of Storebrand Livsforsikring AS since May 2012. Mr. Grefstad had been the Chairman of the Board at Storebrand Bank ASA since April 18, 2016. He served as Chairman at Storebrand Boligkreditt AS since April 18, 2016. He served as Vice Chairman of Storebrand Bank ASA from May 31, 2012 to November 14, 2012. Mr. Grefstad has been a Member of Corporate Assembly at Norsk Hydro ASA since May 2, 2016. He serves as a Director of Oslo Reinsurance Company ASA and Fair Forsikring. Mr. Grefstad served as a Director at SPP Livförsäkring AB (formerly, SPP Liv AB) since August 2012. He served as a Director of Storebrand Bank ASA until November 14, 2012. Mr. Grefstad served as a Director of If Skadeförsäkring Holding AB (publ) (Also known as, IF P&C Insurance Holding Ltd.) since April 7, 2003. He is a State Authorized Public Accountant. Mr. Grefstad holds Authorized Finance Analyst (AFA) from Norwegian School of Economics and Business Administration (NHH).

CEO Compensation
  • Odd's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Odd's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Storebrand management team in years:

3.2
Average Tenure
54
Average Age
  • The tenure for the Storebrand management team is about average.
Management Team

Odd Grefstad

TITLE
Group Chief Executive Officer
COMPENSATION
NOK8M
AGE
54
TENURE
7.1 yrs

Lars Løddesøl

TITLE
Group Chief Financial Officer
COMPENSATION
NOK6M
AGE
55
TENURE
8.3 yrs

Heidi Skaaret

TITLE
Executive Vice President of People & Technology
COMPENSATION
NOK5M
AGE
58
TENURE
2.6 yrs

Karin Greve-Isdahl

TITLE
Executive Vice President of Communications
COMPENSATION
NOK3M
AGE
40

Jan Saugestad

TITLE
Executive Vice President of Asset Management
COMPENSATION
NOK7M
AGE
54
TENURE
3.8 yrs

Geir Holmgren

TITLE
Managing Director of Customer Service & Product
COMPENSATION
NOK5M
AGE
47

Staffan Hansén

TITLE
Executive Vice President of SPP Pension & Insurance AB
COMPENSATION
NOK6M
AGE
54

Jostein Dalland

TITLE
Executive Vice President of Digital Business Development
COMPENSATION
NOK4M
AGE
50
TENURE
2.6 yrs

Wenche Martinussen

TITLE
Executive Vice President of Customer Retail Norway
COMPENSATION
NOK4M
AGE
51
TENURE
2.1 yrs

Kjetil Krøkje

TITLE
Head of Investor Relations
Board of Directors Tenure

Average tenure and age of the Storebrand board of directors in years:

5
Average Tenure
60
Average Age
  • The tenure for the Storebrand board of directors is about average.
Board of Directors

Didrik Munch

TITLE
Chairman of the Board
COMPENSATION
NOK760K
AGE
63
TENURE
2.3 yrs

Terje Venold

TITLE
Chairman of the Board of Representatives
AGE
69

Martin Skancke

TITLE
Director
COMPENSATION
NOK720K
AGE
53
TENURE
4.8 yrs

Per Dyb

TITLE
Chairman of Nominating Committee
AGE
64

Karin Orgland

TITLE
Director
COMPENSATION
NOK482K
AGE
60
TENURE
4.2 yrs

Vibeke Madsen

TITLE
Deputy Chairman of Board of Representatives
AGE
64

Rune Pedersen

TITLE
Observer and Member of Board of Representatives

Laila Dahlen

TITLE
Director
COMPENSATION
NOK340K
AGE
51
TENURE
6.3 yrs

Heidi Storruste

TITLE
Director
COMPENSATION
NOK433K
AGE
54
TENURE
6.5 yrs

Arne Håstein

TITLE
Director
COMPENSATION
NOK355K
AGE
46
TENURE
5.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Storebrand individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Jul 19 Buy Odd Grefstad Individual 12. Jul 19 12. Jul 19 2,000 €6.42 €12,834
12. Jul 19 Buy Martin Skancke Individual 12. Jul 19 12. Jul 19 3,586 €6.34 €22,751
12. Jul 19 Buy Lars Løddesøl Individual 12. Jul 19 12. Jul 19 1,050 €6.35 €6,668
31. May 19 Buy Lars Løddesøl Individual 31. May 19 31. May 19 1,000 €6.46 €6,462
27. May 19 Buy Laila Dahlen Individual 27. May 19 27. May 19 2,000 €6.71 €13,430
16. May 19 Buy Didrik Munch Individual 16. May 19 16. May 19 5,000 €6.86 €34,316
15. May 19 Buy Karl Sandlund Individual 15. May 19 15. May 19 3,000 €6.75 €20,258
08. May 19 Buy Arne Håstein Individual 08. May 19 08. May 19 355 €6.97 €2,473
08. May 19 Buy Martin Skancke Individual 08. May 19 08. May 19 2,000 €6.99 €13,988
25. Feb 19 Buy Didrik Munch Individual 25. Feb 19 25. Feb 19 12,000 €6.89 €82,687
X
Management checks
We assess Storebrand's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Storebrand has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Storebrand ASA, through its subsidiaries, primarily provides insurance products and services for private individuals, companies, municipalities, and public sector in Norway and Sweden. It operates through Savings, Insurance, Guaranteed Pension, and Other segments. The Savings segment offers pension saving products, including retirement, defined contribution pensions, asset management, and retail banking products for private individuals. The Insurance segment provides health insurance, property and casualty insurance, personal risk products, employer’s liability insurance, and pension-related insurance products to the corporate and retail markets. The Guaranteed Pension segment offers long-term pension savings products, such as retirement, defined benefit pensions, paid-up policies, and individual capital and pension insurance products. The Other segment provides life insurance products; and lending products to commercial enterprises. Storebrand ASA was founded in 1767 and is headquartered in Lysaker, Norway.

Details
Name: Storebrand ASA
SKT
Exchange: DB
Founded: 1767
NOK2,908,207,595
466,862,634
Website: http://www.storebrand.no
Address: Storebrand ASA
Professor Kohts vei 9,
Lysaker,
Akershus, 1366,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB STB Ordinary Shares Oslo Bors NO NOK 02. Jan 1992
OTCPK SRED.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB SKT Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0NO0 Ordinary Shares London Stock Exchange GB NOK 02. Jan 1992
BATS-CHIXE STBO Ordinary Shares BATS 'Chi-X Europe' GB NOK 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,789
Storebrand employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 21:02
End of day share price update: 2019/07/22 00:00
Last estimates confirmation: 2019/07/17
Last earnings filing: 2019/07/12
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.