Sparekassen Sjælland-Fyn (CPSE:SPKSJF) - Share price, News & Analysis

SPKSJF fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	4/6
Financial Health	4/6
Dividends	0/6

SPKSJF Stock Overview

Sparekassen Sjælland-Fyn A/S, a savings bank, provides financial products and services to private and corporate customers.

Rewards

Trading at 29.9% below our estimate of its fair value

Earnings grew by 93% over the past year

Risk Analysis

Earnings are forecast to decline by an average of 9.2% per year for the next 3 years

High level of non-cash earnings

Price History & Performance

Summary of all time highs, changes and price drops for Sparekassen Sjælland-Fyn
Historical stock prices
Current Share Price	kr.192.50
52 Week High	kr.199.00
52 Week Low	kr.93.40
Beta	0.65
1 Month Change	25.41%
3 Month Change	39.49%
1 Year Change	101.36%
3 Year Change	128.62%
5 Year Change	61.77%
Change since IPO	94.44%

Shareholder Returns

	SPKSJF	DK Banks	DK Market
7D	6.4%	6.3%	-1.3%
1Y	101.4%	28.1%	9.9%

Return vs Industry: SPKSJF exceeded the Danish Banks industry which returned 31.9% over the past year.

Return vs Market: SPKSJF exceeded the Danish Market which returned 10.1% over the past year.

Price Volatility

Is SPKSJF's price volatile compared to industry and market?
SPKSJF volatility
SPKSJF Average Weekly Movement	3.6%
Banks Industry Average Movement	3.5%
Market Average Movement	5.1%
10% most volatile stocks in DK Market	10.2%
10% least volatile stocks in DK Market	3.0%

Stable Share Price: SPKSJF is less volatile than 75% of Danish stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: SPKSJF's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1825	550	Lars Petersson	https://www.spks.dk

Sparekassen Sjælland-Fyn A/S, a savings bank, provides financial products and services to private and corporate customers. The company offers deposits and lending services, savings products, housing finance, pension savings products, asset management services, and investment and insurance products. It operates approximately 40 branches.

Sparekassen Sjælland-Fyn Fundamentals Summary

How do Sparekassen Sjælland-Fyn's earnings and revenue compare to its market cap?
SPKSJF fundamental statistics
Market Cap	kr.3.31b
Earnings (TTM)	kr.387.29m
Revenue (TTM)	kr.1.27b

8.6x

P/E Ratio

0.9x

P/B Ratio

Is SPKSJF overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
SPKSJF income statement (TTM)
Revenue	kr.1.27b
Cost of Revenue	kr.0
Gross Profit	kr.1.27b
Expenses	kr.880.96m
Earnings	kr.387.29m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	22.51
Gross Margin	100.00%
Net Profit Margin	30.54%
Debt/Equity Ratio	50.0%

How did SPKSJF perform over the long term?

See historical performance and comparison

Valuation

Is Sparekassen Sjælland-Fyn undervalued compared to its fair value and its price relative to the market?

29.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: SPKSJF (DKK192.5) is trading below our estimate of fair value (DKK274.43)

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

Price To Earnings Ratio

PE vs Industry: SPKSJF is good value based on its PE Ratio (8.6x) compared to the Danish Banks industry average (9.9x).

PE vs Market: SPKSJF is good value based on its PE Ratio (8.6x) compared to the Danish market (17x).

Price to Earnings Growth Ratio

PEG Ratio: SPKSJF's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: SPKSJF's PB Ratio (0.9x) is in line with the DK Banks industry average.

Future Growth

How is Sparekassen Sjælland-Fyn forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-9.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SPKSJF's earnings are forecast to decline over the next 3 years (-9.2% per year).

Earnings vs Market: SPKSJF's earnings are forecast to decline over the next 3 years (-9.2% per year).

High Growth Earnings: SPKSJF's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SPKSJF's revenue (1% per year) is forecast to grow slower than the Danish market (6.7% per year).

High Growth Revenue: SPKSJF's revenue (1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SPKSJF's Return on Equity is forecast to be low in 3 years time (9.2%).

Past Performance

How has Sparekassen Sjælland-Fyn performed over the past 5 years?

16.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: SPKSJF has a high level of non-cash earnings.

Growing Profit Margin: SPKSJF's current net profit margins (30.5%) are higher than last year (19.2%).

Past Earnings Growth Analysis

Earnings Trend: SPKSJF's earnings have grown by 16.8% per year over the past 5 years.

Accelerating Growth: SPKSJF's earnings growth over the past year (93%) exceeds its 5-year average (16.8% per year).

Earnings vs Industry: SPKSJF earnings growth over the past year (93%) exceeded the Banks industry 61.1%.

Return on Equity

High ROE: SPKSJF's Return on Equity (11.1%) is considered low.

Financial Health

How is Sparekassen Sjælland-Fyn's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: SPKSJF's Assets to Equity ratio (7.6x) is low.

Allowance for Bad Loans: Insufficient data to determine if SPKSJF has a sufficient allowance for bad loans.

Low Risk Liabilities: 91% of SPKSJF's liabilities are made up of primarily low risk sources of funding.

Loan Level: SPKSJF has an appropriate level of Loans to Assets ratio (43%).

Low Risk Deposits: SPKSJF's Loans to Deposits ratio (54%) is appropriate.

Level of Bad Loans: Insufficient data to determine if SPKSJF has an appropriate level of bad loans.

Dividend

What is Sparekassen Sjælland-Fyn current dividend yield, its reliability and sustainability?

3.25%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate SPKSJF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SPKSJF's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SPKSJF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SPKSJF's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: SPKSJF is not paying a notable dividend for the Danish market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SPKSJF's dividend in 3 years as they are not forecast to pay a notable one for the Danish market.

Next Steps

Explore strong dividend paying companies in the Banks industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure

CEO

Lars Petersson (54 yo)

13yrs

Tenure

kr.5,322,000

Compensation

Mr. Lars Petersson serves as Chief Executive Officer, Managing Director & Member of Executive Board at Sparekassen Sjælland-Fyn A/S. Mr. Petersson serves as Chief Executive Officer and Managing Director of...

CEO Compensation Analysis

Compensation vs Market: Lars's total compensation ($USD815.66K) is about average for companies of similar size in the Danish market ($USD745.83K).

Compensation vs Earnings: Lars's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: SPKSJF's management team is considered experienced (3 years average tenure).

Board Members

Experienced Board: SPKSJF's board of directors are considered experienced (9 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/01/17 23:05
End of Day Share Price	2022/01/17 00:00
Earnings	2021/09/30
Annual Earnings	2020/12/31