Ringkjøbing Landbobank Valuation

Q: What is the Fair Price of RILBA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

RILBA (DKK1198) is trading below our estimate of [[fair value]] (DKK1624.15)

Is RILBA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of RILBA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RILBA (DKK1198) is trading below our estimate of fair value (DKK1624.15)

Significantly Below Fair Value: RILBA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RILBA?

Key metric: As RILBA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for RILBA. This is calculated by dividing RILBA's market cap by their current earnings.
What is RILBA's PE Ratio?
PE Ratio	12.9x
Earnings	DKK 2.38b
Market Cap	DKK 30.66b

RILBA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	-4.9x

Price to Earnings Ratio vs Peers

How does RILBA's PE Ratio compare to its peers?

The above table shows the PE ratio for RILBA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	8.1x
SPNO Spar Nord Bank	10.3x	-11.4%	DKK 23.5b
VJBA Vestjysk Bank	4.9x	n/a	DKK 5.2b
DAB Danske Andelskassers Bank	9.7x	n/a	DKK 3.2b
SKJE Skjern Bank	7.3x	n/a	DKK 2.0b
RILBA Ringkjøbing Landbobank	12.9x	-2.6%	DKK 30.7b

Price-To-Earnings vs Peers: RILBA is expensive based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (8.1x).

Price to Earnings Ratio vs Industry

How does RILBA's PE Ratio compare vs other companies in the DK Banks Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: RILBA is expensive based on its Price-To-Earnings Ratio (12.9x) compared to the European Banks industry average (7.6x).

Price to Earnings Ratio vs Fair Ratio

What is RILBA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RILBA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.9x
Fair PE Ratio	7.6x

Price-To-Earnings vs Fair Ratio: RILBA is expensive based on its Price-To-Earnings Ratio (12.9x) compared to the estimated Fair Price-To-Earnings Ratio (7.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RILBA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	DKK 1,198.00	DKK 1,330.00 +11.0%	1.5%	DKK 1,350.00	DKK 1,310.00	n/a	2
Dec ’25	DKK 1,150.00	DKK 1,330.00 +15.7%	1.5%	DKK 1,350.00	DKK 1,310.00	n/a	2
Nov ’25	DKK 1,140.00	DKK 1,330.00 +16.7%	1.5%	DKK 1,350.00	DKK 1,310.00	n/a	2
Oct ’25	DKK 1,037.00	DKK 1,295.00 +24.9%	0.4%	DKK 1,300.00	DKK 1,290.00	n/a	2
Sep ’25	DKK 1,106.00	DKK 1,295.00 +17.1%	0.4%	DKK 1,300.00	DKK 1,290.00	n/a	2
Aug ’25	DKK 1,159.00	DKK 1,295.00 +11.7%	0.4%	DKK 1,300.00	DKK 1,290.00	n/a	2
Jul ’25	DKK 1,182.00	DKK 1,295.00 +9.6%	0.4%	DKK 1,300.00	DKK 1,290.00	n/a	2
Mar ’25	DKK 1,163.00	DKK 1,247.50 +7.3%	0.2%	DKK 1,250.00	DKK 1,245.00	n/a	2
Feb ’25	DKK 1,125.00	DKK 1,247.50 +10.9%	0.2%	DKK 1,250.00	DKK 1,245.00	n/a	2
Jan ’25	DKK 991.50	DKK 1,180.00 +19.0%	1.7%	DKK 1,200.00	DKK 1,160.00	n/a	2
Dec ’24	DKK 940.50	DKK 1,180.00 +25.5%	1.7%	DKK 1,200.00	DKK 1,160.00	DKK 1,150.00	2
Nov ’24	DKK 960.50	DKK 1,180.00 +22.9%	1.7%	DKK 1,200.00	DKK 1,160.00	DKK 1,140.00	2
Oct ’24	DKK 1,021.00	DKK 1,180.00 +15.6%	1.7%	DKK 1,200.00	DKK 1,160.00	DKK 1,037.00	2
Sep ’24	DKK 1,018.00	DKK 1,205.00 +18.4%	3.7%	DKK 1,250.00	DKK 1,160.00	DKK 1,106.00	2
Aug ’24	DKK 963.50	DKK 1,160.00 +20.4%	3.4%	DKK 1,200.00	DKK 1,120.00	DKK 1,159.00	2
Jul ’24	DKK 977.50	DKK 1,050.00 +7.4%	15.1%	DKK 1,200.00	DKK 830.00	DKK 1,182.00	3
Jun ’24	DKK 935.50	DKK 1,050.00 +12.2%	15.1%	DKK 1,200.00	DKK 830.00	DKK 1,230.00	3
May ’24	DKK 971.50	DKK 1,050.00 +8.1%	15.1%	DKK 1,200.00	DKK 830.00	DKK 1,187.00	3
Apr ’24	DKK 967.00	DKK 1,066.67 +10.3%	16.5%	DKK 1,250.00	DKK 830.00	DKK 1,209.00	3
Mar ’24	DKK 1,096.00	DKK 1,066.67 -2.7%	16.5%	DKK 1,250.00	DKK 830.00	DKK 1,163.00	3
Feb ’24	DKK 981.00	DKK 1,033.33 +5.3%	14.0%	DKK 1,150.00	DKK 830.00	DKK 1,125.00	3
Jan ’24	DKK 948.00	DKK 1,016.67 +7.2%	13.0%	DKK 1,120.00	DKK 830.00	DKK 991.50	3
Dec ’23	DKK 899.00	DKK 1,016.67 +13.1%	13.0%	DKK 1,120.00	DKK 830.00	DKK 940.50	3

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/27 04:46
End of Day Share Price	2024/12/23 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

Ringkjøbing Landbobank A/S is covered by 6 analysts. 2 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
Adonis Catic	ABG Sundal Collier
Martin Birk	Carnegie Investment Bank AB
Asbjørn Mørk	Danske Bank